diff --git a/cosmovisor/CHANGELOG.md b/cosmovisor/CHANGELOG.md
index e2b24548a..a4f6e7151 100644
--- a/cosmovisor/CHANGELOG.md
+++ b/cosmovisor/CHANGELOG.md
@@ -35,12 +35,19 @@ Ref: https://keepachangelog.com/en/1.0.0/
 # Changelog
 
 ## [Unreleased]
+<!-- NOTE: when creating a new release, update cosmovisor/cmd/cosmovisor/cmd/version.go:Version -->
+
+## v1.1.0 2022-10-02
 
 ### Features
 
-* [\#10285](https://github.com/cosmos/cosmos-sdk/pull/10316) Added `run` action.
+* [\#10285](https://github.com/cosmos/cosmos-sdk/pull/10316) Added `run` command to run the associated app.
 * [\#10533](https://github.com/cosmos/cosmos-sdk/pull/10649) Added environmental variable `DAEMON_BACKUP_DIR` to allow node to set a custom backup directory.
 
+### Features
+
+* [\#10649](https://github.com/cosmos/cosmos-sdk/pull/10649) Customize backup directory. When `DAEMON_BACKUP_DIR` env variable is set, cosmovisor will backup the app data directory in that directory before running the update.
+
 ### Deprecated
 
 * [\#10285](https://github.com/cosmos/cosmos-sdk/pull/10316) Running `cosmovisor` without the `run` argument.
diff --git a/cosmovisor/README.md b/cosmovisor/README.md
index bffb5ee33..bf5d00933 100644
--- a/cosmovisor/README.md
+++ b/cosmovisor/README.md
@@ -75,6 +75,7 @@ All arguments passed to `cosmovisor run` will be passed to the application binar
 * `DAEMON_ALLOW_DOWNLOAD_BINARIES` (*optional*), if set to `true`, will enable auto-downloading of new binaries (for security reasons, this is intended for full nodes rather than validators). By default, `cosmovisor` will not auto-download new binaries.
 * `DAEMON_RESTART_AFTER_UPGRADE` (*optional*, default = `true`), if `true`, restarts the subprocess with the same command-line arguments and flags (but with the new binary) after a successful upgrade. Otherwise (`false`), `cosmovisor` stops running after an upgrade and requires the system administrator to manually restart it. Note restart is only after the upgrade and does not auto-restart the subprocess after an error occurs.
 * `DAEMON_POLL_INTERVAL` is the interval length for polling the upgrade plan file. The value can either be a number (in milliseconds) or a duration (e.g. `1s`). Default: 300 milliseconds.
+* `DAEMON_BACKUP_DIR` option to set a custom backup directory. If not set, `DAEMON_HOME` is used.
 * `UNSAFE_SKIP_BACKUP` (defaults to `false`), if set to `true`, upgrades directly without performing a backup. Otherwise (`false`, default) backs up the data before trying the upgrade. The default value of false is useful and recommended in case of failures and when a backup needed to rollback. We recommend using the default backup option `UNSAFE_SKIP_BACKUP=false`.
 * `DAEMON_PREUPGRADE_MAX_RETRIES` (defaults to `0`). The maximum number of times to call `pre-upgrade` in the application after exit status of `31`. After the maximum number of retries, cosmovisor fails the upgrade.
 
diff --git a/cosmovisor/cmd/cosmovisor/cmd/version.go b/cosmovisor/cmd/cosmovisor/cmd/version.go
index d17483f92..8f7e68f94 100644
--- a/cosmovisor/cmd/cosmovisor/cmd/version.go
+++ b/cosmovisor/cmd/cosmovisor/cmd/version.go
@@ -9,8 +9,8 @@ import (
 	"github.com/rs/zerolog"
 )
 
-// Version represents Cosmovisor version value. Set during build
-var Version = "1.0.0"
+// Version represents Cosmovisor version value. Overwritten during build
+var Version = "1.1.0"
 
 // VersionArgs is the strings that indicate a cosmovisor version command.
 var VersionArgs = []string{"version", "--version"}