diff --git a/CHANGELOG.md b/CHANGELOG.md
index ee852f4b8..962a98d08 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,14 +1,19 @@
-## [1.3.0-dev.1] - 2024-08-15
+## [1.2.1] - 2024-08-29
 
 ### Bug Fixes
 
-- Vote extensions verified multiple times (#867)
+- Genesis.json not loaded on restart before genesis block is mined
+- Panic when loading invalid node key file (#888)
 
-### Features
+### Miscellaneous Tasks
 
-- Configuration of deadlock detection (#880)
+- Update changelog and version to 1.2.1-dev.1
+
+### Build
 
-## [1.2.0-dev.3] - 2024-08-12
+- Bump git-cliff to 2.4 and remove history before 1.0 (#882)
+
+## [1.2.0] - 2024-08-15
 
 ### Bug Fixes
 
@@ -16,31 +21,11 @@
 - Build of dev releases fails due to invalid tags (#859)
 - Msg queue is too small for mainnet (#863)
 - Non-active validators can't verify evidence signatures (#865)
+- Vote extensions verified multiple times (#867)
 
-### Miscellaneous Tasks
-
-- Improve logs (#866)
-- Update changelog and version to 1.2.0-dev.3 (#868)
-
-## [1.2.0-dev.2] - 2024-08-05
-
-### Bug Fixes
-
-- Build of dev releases fails due to invalid tags (#859)
-
-### Miscellaneous Tasks
-
-- Update changelog and version to 1.2.0-dev.2 (#861)
-
-### Build
-
-- E2e tests fail due to lack of docker-compose command (#860)
-
-## [1.2.0-dev.1] - 2024-08-05
-
-### Bug Fixes
+### Features
 
-- Proposal not generated after waiting for last block time to pass (#849)
+- Configuration of deadlock detection (#880)
 
 ### Miscellaneous Tasks
 
@@ -48,6 +33,7 @@
 - Update changelog and version to 1.2.0-dev.2 (#861)
 - Improve logs (#866)
 - Update changelog and version to 1.2.0-dev.3 (#868)
+- Update changelog and version to 1.2.0
 
 ### Build
 
@@ -81,16 +67,6 @@
 
 ## [1.0.0] - 2024-07-01
 
-### Miscellaneous Tasks
-
-- Update changelog and version to 1.0.0
-
-### Build
-
-- Bump github.com/stretchr/testify from 1.8.2 to 1.9.0 (#817)
-
-## [1.0.0-dev.2] - 2024-06-26
-
 ### Bug Fixes
 
 - Ineffective PROXY_APP and ABCI env in entrypoint (#805)
@@ -98,4 +74,9 @@
 ### Miscellaneous Tasks
 
 - Update changelog and version to 1.0.0-dev.2 (#806)
+- Update changelog and version to 1.0.0
+
+### Build
+
+- Bump github.com/stretchr/testify from 1.8.2 to 1.9.0 (#817)
 
diff --git a/version/version.go b/version/version.go
index 97062bbfe..9a488a262 100644
--- a/version/version.go
+++ b/version/version.go
@@ -9,7 +9,7 @@ var (
 const (
 	// TMVersionDefault is the used as the fallback version for Tenderdash
 	// when not using git describe. It is formatted with semantic versioning.
-	TMVersionDefault = "1.2.0"
+	TMVersionDefault = "1.2.1"
 	// ABCISemVer is the semantic version of the ABCI library
 	ABCISemVer = "1.1.0"