diff --git a/.cirrus.yml b/.cirrus.yml
index 4bd15511a4d18..0c1e01dc95b77 100644
--- a/.cirrus.yml
+++ b/.cirrus.yml
@@ -20,6 +20,7 @@ env:
   EXPERIMENTAL: no
   ECDH: no
   RECOVERY: no
+  EXTRAKEYS: no
   SCHNORRSIG: no
   ELLSWIFT: no
   ### test options
@@ -66,6 +67,7 @@ task:
   env:
     ECDH: yes
     RECOVERY: yes
+    EXTRAKEYS: yes
     SCHNORRSIG: yes
     ELLSWIFT: yes
   matrix:
@@ -82,6 +84,7 @@ task:
   env:
     ECDH: yes
     RECOVERY: yes
+    EXTRAKEYS: yes
     SCHNORRSIG: yes
     ELLSWIFT: yes
     WRAPPER_CMD: 'valgrind --error-exitcode=42'
diff --git a/.github/workflows/ci.yml b/.github/workflows/ci.yml
index ade94e1eec792..e238f3b7a1ab7 100644
--- a/.github/workflows/ci.yml
+++ b/.github/workflows/ci.yml
@@ -22,7 +22,7 @@ env:
   BUILD: 'check'
   ### secp256k1 config
   ECMULTWINDOW: 15
-  ECMULTGENKB: 22
+  ECMULTGENKB: 86
   ASM: 'no'
   WIDEMUL: 'auto'
   WITH_VALGRIND: 'yes'
@@ -31,6 +31,7 @@ env:
   EXPERIMENTAL: 'no'
   ECDH: 'no'
   RECOVERY: 'no'
+  EXTRAKEYS: 'no'
   SCHNORRSIG: 'no'
   ELLSWIFT: 'no'
   ### test options
@@ -71,18 +72,18 @@ jobs:
       matrix:
         configuration:
           - env_vars: { WIDEMUL: 'int64',  RECOVERY: 'yes' }
-          - env_vars: { WIDEMUL: 'int64',                   ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - env_vars: { WIDEMUL: 'int64',                   ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
           - env_vars: { WIDEMUL: 'int128' }
-          - env_vars: { WIDEMUL: 'int128_struct',                                           ELLSWIFT: 'yes' }
-          - env_vars: { WIDEMUL: 'int128', RECOVERY: 'yes',              SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
-          - env_vars: { WIDEMUL: 'int128',                  ECDH: 'yes', SCHNORRSIG: 'yes' }
-          - env_vars: { WIDEMUL: 'int128', ASM: 'x86_64',                                   ELLSWIFT: 'yes' }
-          - env_vars: {                    RECOVERY: 'yes',              SCHNORRSIG: 'yes' }
-          - env_vars: { CTIMETESTS: 'no',  RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', CPPFLAGS: '-DVERIFY' }
+          - env_vars: { WIDEMUL: 'int128_struct',                                                             ELLSWIFT: 'yes' }
+          - env_vars: { WIDEMUL: 'int128', RECOVERY: 'yes',              EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - env_vars: { WIDEMUL: 'int128',                  ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes' }
+          - env_vars: { WIDEMUL: 'int128', ASM: 'x86_64',                                                     ELLSWIFT: 'yes' }
+          - env_vars: {                    RECOVERY: 'yes',              EXTRAKEYS: 'yes', SCHNORRSIG: 'yes' }
+          - env_vars: { CTIMETESTS: 'no',  RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', CPPFLAGS: '-DVERIFY' }
           - env_vars: { BUILD: 'distcheck', WITH_VALGRIND: 'no', CTIMETESTS: 'no', BENCH: 'no' }
           - env_vars: { CPPFLAGS: '-DDETERMINISTIC' }
           - env_vars: { CFLAGS: '-O0', CTIMETESTS: 'no' }
-          - env_vars: { CFLAGS: '-O1',     RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - env_vars: { CFLAGS: '-O1',     RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
           - env_vars: { ECMULTGENKB: 2, ECMULTWINDOW: 2 }
           - env_vars: { ECMULTGENKB: 86, ECMULTWINDOW: 4 }
         cc:
@@ -139,6 +140,7 @@ jobs:
       HOST: 'i686-linux-gnu'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CC: ${{ matrix.cc }}
@@ -183,6 +185,7 @@ jobs:
       WITH_VALGRIND: 'no'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -234,6 +237,7 @@ jobs:
       WITH_VALGRIND: 'no'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -279,6 +283,7 @@ jobs:
       WITH_VALGRIND: 'no'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -334,6 +339,7 @@ jobs:
       WITH_VALGRIND: 'no'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -386,6 +392,7 @@ jobs:
       WRAPPER_CMD: 'valgrind --error-exitcode=42'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -437,6 +444,7 @@ jobs:
     env:
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -501,6 +509,7 @@ jobs:
     env:
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CC: 'clang'
@@ -547,6 +556,7 @@ jobs:
       WITH_VALGRIND: 'no'
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
       CTIMETESTS: 'no'
@@ -605,15 +615,15 @@ jobs:
       fail-fast: false
       matrix:
         env_vars:
-          - { WIDEMUL: 'int64',  RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - { WIDEMUL: 'int64',  RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
           - { WIDEMUL: 'int128_struct', ECMULTGENKB: 2, ECMULTWINDOW: 4 }
-          - { WIDEMUL: 'int128',                  ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - { WIDEMUL: 'int128',                  ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
           - { WIDEMUL: 'int128', RECOVERY: 'yes' }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CC: 'gcc' }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes',            WRAPPER_CMD: 'valgrind --error-exitcode=42', SECP256K1_TEST_ITERS: 2 }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CC: 'gcc', WRAPPER_CMD: 'valgrind --error-exitcode=42', SECP256K1_TEST_ITERS: 2 }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CPPFLAGS: '-DVERIFY', CTIMETESTS: 'no' }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CC: 'gcc' }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes',            WRAPPER_CMD: 'valgrind --error-exitcode=42', SECP256K1_TEST_ITERS: 2 }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CC: 'gcc', WRAPPER_CMD: 'valgrind --error-exitcode=42', SECP256K1_TEST_ITERS: 2 }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CPPFLAGS: '-DVERIFY', CTIMETESTS: 'no' }
           - BUILD: 'distcheck'
 
     steps:
@@ -666,13 +676,13 @@ jobs:
       fail-fast: false
       matrix:
         env_vars:
-          - { WIDEMUL: 'int64',  RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - { WIDEMUL: 'int64',  RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
           - { WIDEMUL: 'int128_struct', ECMULTGENPRECISION: 2, ECMULTWINDOW: 4 }
-          - { WIDEMUL: 'int128',                  ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - { WIDEMUL: 'int128',                  ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
           - { WIDEMUL: 'int128', RECOVERY: 'yes' }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CC: 'gcc' }
-          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CPPFLAGS: '-DVERIFY' }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes' }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CC: 'gcc' }
+          - { WIDEMUL: 'int128', RECOVERY: 'yes', ECDH: 'yes', EXTRAKEYS: 'yes', SCHNORRSIG: 'yes', ELLSWIFT: 'yes', CPPFLAGS: '-DVERIFY' }
           - BUILD: 'distcheck'
 
     steps:
@@ -778,6 +788,7 @@ jobs:
       WERROR_CFLAGS:
       ECDH: 'yes'
       RECOVERY: 'yes'
+      EXTRAKEYS: 'yes'
       SCHNORRSIG: 'yes'
       ELLSWIFT: 'yes'
 
@@ -864,5 +875,5 @@ jobs:
           CI_BUILD: ${{ runner.temp }}/${{ github.run_id }}${{ github.action }}/build
           CI_INSTALL: ${{ runner.temp }}/${{ github.run_id }}${{ github.action }}/install
         run: |
-          cmake -B ${{ env.CI_BUILD }} -DCMAKE_INSTALL_PREFIX=${{ env.CI_INSTALL }} && cmake --build ${{ env.CI_BUILD }} --target install && ls -RlAh ${{ env.CI_INSTALL }}
+          cmake -B ${{ env.CI_BUILD }} -DCMAKE_INSTALL_PREFIX=${{ env.CI_INSTALL }} && cmake --build ${{ env.CI_BUILD }} && cmake --install ${{ env.CI_BUILD }} && ls -RlAh ${{ env.CI_INSTALL }}
           gcc -o ecdsa examples/ecdsa.c -I ${{ env.CI_INSTALL }}/include -L ${{ env.CI_INSTALL }}/lib*/ -l secp256k1 -Wl,-rpath,"${{ env.CI_INSTALL }}/lib",-rpath,"${{ env.CI_INSTALL }}/lib64" && ./ecdsa
diff --git a/.gitignore b/.gitignore
index 574902b8b5e45..18e3259f59f37 100644
--- a/.gitignore
+++ b/.gitignore
@@ -10,6 +10,7 @@ ctime_tests
 ecdh_example
 ecdsa_example
 schnorr_example
+ellswift_example
 *.exe
 *.so
 *.a
diff --git a/CHANGELOG.md b/CHANGELOG.md
index a2855912fdd7a..0868e75480e44 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,20 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased]
+## [0.5.1] - 2024-08-01
+
+#### Added
+ - Added usage example for an ElligatorSwift key exchange.
+
+#### Changed
+ - The default size of the precomputed table for signing was changed from 22 KiB to 86 KiB. The size can be changed with the configure option `--ecmult-gen-kb` (`SECP256K1_ECMULT_GEN_KB` for CMake).
+ - "auto" is no longer an accepted value for the `--with-ecmult-window` and `--with-ecmult-gen-kb` configure options (this also applies to  `SECP256K1_ECMULT_WINDOW_SIZE` and `SECP256K1_ECMULT_GEN_KB` in CMake). To achieve the same configuration as previously provided by the "auto" value, omit setting the configure option explicitly.
+
+#### Fixed
+ - Fixed compilation when the extrakeys module is disabled.
+
+#### ABI Compatibility
+The ABI is backward compatible with versions 0.5.0, 0.4.x and 0.3.x.
 
 ## [0.5.0] - 2024-05-06
 
@@ -14,7 +27,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 #### Changed
  - The implementation of the point multiplication algorithm used for signing and public key generation was changed, resulting in improved performance for those operations.
-   - The related configure option `--ecmult-gen-precision` was replaced with `--ecmult-gen-kb` (`ECMULT_GEN_KB` for CMake).
+   - The related configure option `--ecmult-gen-precision` was replaced with `--ecmult-gen-kb` (`SECP256K1_ECMULT_GEN_KB` for CMake).
    - This changes the supported precomputed table sizes for these operations. The new supported sizes are 2 KiB, 22 KiB, or 86 KiB (while the old supported sizes were 32 KiB, 64 KiB, or 512 KiB).
 
 #### ABI Compatibility
@@ -128,7 +141,7 @@ This version was in fact never released.
 The number was given by the build system since the introduction of autotools in Jan 2014 (ea0fe5a5bf0c04f9cc955b2966b614f5f378c6f6).
 Therefore, this version number does not uniquely identify a set of source files.
 
-[unreleased]: https://github.com/bitcoin-core/secp256k1/compare/v0.5.0...HEAD
+[0.5.1]: https://github.com/bitcoin-core/secp256k1/compare/v0.5.0...v0.5.1
 [0.5.0]: https://github.com/bitcoin-core/secp256k1/compare/v0.4.1...v0.5.0
 [0.4.1]: https://github.com/bitcoin-core/secp256k1/compare/v0.4.0...v0.4.1
 [0.4.0]: https://github.com/bitcoin-core/secp256k1/compare/v0.3.2...v0.4.0
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 7e3465a75b2ec..7a87686056be4 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1,11 +1,4 @@
-cmake_minimum_required(VERSION 3.13)
-
-if(CMAKE_VERSION VERSION_GREATER_EQUAL 3.15)
-  # MSVC runtime library flags are selected by the CMAKE_MSVC_RUNTIME_LIBRARY abstraction.
-  cmake_policy(SET CMP0091 NEW)
-  # MSVC warning flags are not in CMAKE_<LANG>_FLAGS by default.
-  cmake_policy(SET CMP0092 NEW)
-endif()
+cmake_minimum_required(VERSION 3.16)
 
 project(libsecp256k1
   # The package (a.k.a. release) version is based on semantic versioning 2.0.0 of
@@ -97,7 +90,7 @@ include(CheckStringOptionValue)
 check_string_option_value(SECP256K1_ECMULT_WINDOW_SIZE)
 add_compile_definitions(ECMULT_WINDOW_SIZE=${SECP256K1_ECMULT_WINDOW_SIZE})
 
-set(SECP256K1_ECMULT_GEN_KB 22 CACHE STRING "The size of the precomputed table for signing in multiples of 1024 bytes (on typical platforms). Larger values result in possibly better signing or key generation performance at the cost of a larger table. Valid choices are 2, 22, 86. The default value is a reasonable setting for desktop machines (currently 22). [default=22]")
+set(SECP256K1_ECMULT_GEN_KB 86 CACHE STRING "The size of the precomputed table for signing in multiples of 1024 bytes (on typical platforms). Larger values result in possibly better signing or key generation performance at the cost of a larger table. Valid choices are 2, 22, 86. The default value is a reasonable setting for desktop machines (currently 86). [default=86]")
 set_property(CACHE SECP256K1_ECMULT_GEN_KB PROPERTY STRINGS 2 22 86)
 check_string_option_value(SECP256K1_ECMULT_GEN_KB)
 if(SECP256K1_ECMULT_GEN_KB EQUAL 2)
@@ -185,7 +178,7 @@ else()
   string(REGEX REPLACE "-DNDEBUG[ \t\r\n]*" "" CMAKE_C_FLAGS_RELEASE "${CMAKE_C_FLAGS_RELEASE}")
   string(REGEX REPLACE "-DNDEBUG[ \t\r\n]*" "" CMAKE_C_FLAGS_MINSIZEREL "${CMAKE_C_FLAGS_MINSIZEREL}")
   # Prefer -O2 optimization level. (-O3 is CMake's default for Release for many compilers.)
-  string(REGEX REPLACE "-O3[ \t\r\n]*" "-O2" CMAKE_C_FLAGS_RELEASE "${CMAKE_C_FLAGS_RELEASE}")
+  string(REGEX REPLACE "-O3( |$)" "-O2\\1" CMAKE_C_FLAGS_RELEASE "${CMAKE_C_FLAGS_RELEASE}")
 endif()
 
 # Define custom "Coverage" build type.
diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index 5fbf7332c97a3..a366d38b0ec9b 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -49,6 +49,7 @@ In addition, libsecp256k1 tries to maintain the following coding conventions:
 * Operations involving secret data should be tested for being constant time with respect to the secrets (see [src/ctime_tests.c](src/ctime_tests.c)).
 * Local variables containing secret data should be cleared explicitly to try to delete secrets from memory.
 * Use `secp256k1_memcmp_var` instead of `memcmp` (see [#823](https://github.com/bitcoin-core/secp256k1/issues/823)).
+* As a rule of thumb, the default values for configuration options should target standard desktop machines and align with Bitcoin Core's defaults, and the tests should mostly exercise the default configuration (see [#1549](https://github.com/bitcoin-core/secp256k1/issues/1549#issuecomment-2200559257)).
 
 #### Style conventions
 
diff --git a/Makefile.am b/Makefile.am
index 322e44eaab93d..8723b53b2ca1e 100644
--- a/Makefile.am
+++ b/Makefile.am
@@ -184,6 +184,17 @@ schnorr_example_LDFLAGS += -lbcrypt
 endif
 TESTS += schnorr_example
 endif
+if ENABLE_MODULE_ELLSWIFT
+noinst_PROGRAMS += ellswift_example
+ellswift_example_SOURCES = examples/ellswift.c
+ellswift_example_CPPFLAGS = -I$(top_srcdir)/include -DSECP256K1_STATIC
+ellswift_example_LDADD = libsecp256k1.la
+ellswift_example_LDFLAGS = -static
+if BUILD_WINDOWS
+ellswift_example_LDFLAGS += -lbcrypt
+endif
+TESTS += ellswift_example
+endif
 endif
 
 ### Precomputed tables
diff --git a/README.md b/README.md
index e8d4123ab92df..ed93e0519ea4a 100644
--- a/README.md
+++ b/README.md
@@ -82,7 +82,7 @@ To maintain a pristine source tree, CMake encourages to perform an out-of-source
     $ cmake ..
     $ cmake --build .
     $ ctest  # run the test suite
-    $ sudo cmake --build . --target install  # optional
+    $ sudo cmake --install .  # optional
 
 To compile optional modules (such as Schnorr signatures), you need to run `cmake` with additional flags (such as `-DSECP256K1_ENABLE_MODULE_SCHNORRSIG=ON`). Run `cmake .. -LH` to see the full list of available flags.
 
@@ -114,6 +114,7 @@ Usage examples can be found in the [examples](examples) directory. To compile th
   * [ECDSA example](examples/ecdsa.c)
   * [Schnorr signatures example](examples/schnorr.c)
   * [Deriving a shared secret (ECDH) example](examples/ecdh.c)
+  * [ElligatorSwift key exchange example](examples/ellswift.c)
 
 To compile the Schnorr signature and ECDH examples, you also need to configure with `--enable-module-schnorrsig` and `--enable-module-ecdh`.
 
diff --git a/ci/ci.sh b/ci/ci.sh
index c7d2e9e4ea4ea..a6c608c29c7c7 100755
--- a/ci/ci.sh
+++ b/ci/ci.sh
@@ -13,7 +13,7 @@ print_environment() {
     # does not rely on bash.
     for var in WERROR_CFLAGS MAKEFLAGS BUILD \
             ECMULTWINDOW ECMULTGENKB ASM WIDEMUL WITH_VALGRIND EXTRAFLAGS \
-            EXPERIMENTAL ECDH RECOVERY SCHNORRSIG ELLSWIFT \
+            EXPERIMENTAL ECDH RECOVERY EXTRAKEYS SCHNORRSIG ELLSWIFT \
             SECP256K1_TEST_ITERS BENCH SECP256K1_BENCH_ITERS CTIMETESTS\
             EXAMPLES \
             HOST WRAPPER_CMD \
@@ -77,6 +77,7 @@ esac
     --with-ecmult-gen-kb="$ECMULTGENKB" \
     --enable-module-ecdh="$ECDH" --enable-module-recovery="$RECOVERY" \
     --enable-module-ellswift="$ELLSWIFT" \
+    --enable-module-extrakeys="$EXTRAKEYS" \
     --enable-module-schnorrsig="$SCHNORRSIG" \
     --enable-examples="$EXAMPLES" \
     --enable-ctime-tests="$CTIMETESTS" \
diff --git a/configure.ac b/configure.ac
index adae1897872d7..6c4c11ddcd58a 100644
--- a/configure.ac
+++ b/configure.ac
@@ -6,7 +6,7 @@ AC_PREREQ([2.60])
 define(_PKG_VERSION_MAJOR, 0)
 define(_PKG_VERSION_MINOR, 5)
 define(_PKG_VERSION_PATCH, 1)
-define(_PKG_VERSION_IS_RELEASE, false)
+define(_PKG_VERSION_IS_RELEASE, true)
 
 # The library version is based on libtool versioning of the ABI. The set of
 # rules for updating the version can be found here:
@@ -216,9 +216,9 @@ AC_ARG_WITH([ecmult-window], [AS_HELP_STRING([--with-ecmult-window=SIZE],
 AC_ARG_WITH([ecmult-gen-kb], [AS_HELP_STRING([--with-ecmult-gen-kb=2|22|86],
 [The size of the precomputed table for signing in multiples of 1024 bytes (on typical platforms).]
 [Larger values result in possibly better signing/keygeneration performance at the cost of a larger table.]
-[The default value is a reasonable setting for desktop machines (currently 22). [default=22]]
+[The default value is a reasonable setting for desktop machines (currently 86). [default=86]]
 )],
-[set_ecmult_gen_kb=$withval], [set_ecmult_gen_kb=22])
+[set_ecmult_gen_kb=$withval], [set_ecmult_gen_kb=86])
 
 AC_ARG_WITH([valgrind], [AS_HELP_STRING([--with-valgrind=yes|no|auto],
 [Build with extra checks for running inside Valgrind [default=auto]]
diff --git a/doc/release-process.md b/doc/release-process.md
index cdf62430dfb7d..a64bae0f0d64e 100644
--- a/doc/release-process.md
+++ b/doc/release-process.md
@@ -31,7 +31,7 @@ Perform these checks when reviewing the release PR (see below):
    ```shell
    dir=$(mktemp -d)
    build=$(mktemp -d)
-   cmake -B $build -DCMAKE_INSTALL_PREFIX=$dir && cmake --build $build --target install && ls -RlAh $dir
+   cmake -B $build -DCMAKE_INSTALL_PREFIX=$dir && cmake --build $build && cmake --install $build && ls -RlAh $dir
    gcc -o ecdsa examples/ecdsa.c -I $dir/include -L $dir/lib*/ -l secp256k1 -Wl,-rpath,"$dir/lib",-rpath,"$dir/lib64" && ./ecdsa
    ```
 4. Use the [`check-abi.sh`](/tools/check-abi.sh) tool to verify that there are no unexpected ABI incompatibilities and that the version number and the release notes accurately reflect all potential ABI changes. To run this tool, the `abi-dumper` and `abi-compliance-checker` packages are required.
@@ -44,7 +44,8 @@ Perform these checks when reviewing the release PR (see below):
 1. Open a PR to the master branch with a commit (using message `"release: prepare for $MAJOR.$MINOR.$PATCH"`, for example) that
    * finalizes the release notes in [CHANGELOG.md](../CHANGELOG.md) by
        * adding a section for the release (make sure that the version number is a link to a diff between the previous and new version),
-       * removing the `[Unreleased]` section header, and
+       * removing the `[Unreleased]` section header,
+       * ensuring that the release notes are not missing entries (check the `needs-changelog` label on github), and
        * including an entry for `### ABI Compatibility` if it doesn't exist,
    * sets `_PKG_VERSION_IS_RELEASE` to `true` in `configure.ac`, and,
    * if this is not a patch release,
diff --git a/examples/CMakeLists.txt b/examples/CMakeLists.txt
index 607bb6777052b..fd1ebce3958d0 100644
--- a/examples/CMakeLists.txt
+++ b/examples/CMakeLists.txt
@@ -28,3 +28,7 @@ endif()
 if(SECP256K1_ENABLE_MODULE_SCHNORRSIG)
   add_example(schnorr)
 endif()
+
+if(SECP256K1_ENABLE_MODULE_ELLSWIFT)
+  add_example(ellswift)
+endif()
diff --git a/examples/ecdh.c b/examples/ecdh.c
index 4b7b7d6154e4e..d71fd2f604b0b 100644
--- a/examples/ecdh.c
+++ b/examples/ecdh.c
@@ -108,7 +108,7 @@ int main(void) {
 
     /* It's best practice to try to clear secrets from memory after using them.
      * This is done because some bugs can allow an attacker to leak memory, for
-     * example through "out of bounds" array access (see Heartbleed), Or the OS
+     * example through "out of bounds" array access (see Heartbleed), or the OS
      * swapping them to disk. Hence, we overwrite the secret key buffer with zeros.
      *
      * Here we are preventing these writes from being optimized out, as any good compiler
diff --git a/examples/ecdsa.c b/examples/ecdsa.c
index d1d2b0e365bd2..d5c4613d9c74e 100644
--- a/examples/ecdsa.c
+++ b/examples/ecdsa.c
@@ -128,7 +128,7 @@ int main(void) {
 
     /* It's best practice to try to clear secrets from memory after using them.
      * This is done because some bugs can allow an attacker to leak memory, for
-     * example through "out of bounds" array access (see Heartbleed), Or the OS
+     * example through "out of bounds" array access (see Heartbleed), or the OS
      * swapping them to disk. Hence, we overwrite the secret key buffer with zeros.
      *
      * Here we are preventing these writes from being optimized out, as any good compiler
diff --git a/examples/ellswift.c b/examples/ellswift.c
new file mode 100644
index 0000000000000..52be7eebfb161
--- /dev/null
+++ b/examples/ellswift.c
@@ -0,0 +1,123 @@
+/*************************************************************************
+ * Written in 2024 by Sebastian Falbesoner                               *
+ * To the extent possible under law, the author(s) have dedicated all    *
+ * copyright and related and neighboring rights to the software in this  *
+ * file to the public domain worldwide. This software is distributed     *
+ * without any warranty. For the CC0 Public Domain Dedication, see       *
+ * EXAMPLES_COPYING or https://creativecommons.org/publicdomain/zero/1.0 *
+ *************************************************************************/
+
+/** This file demonstrates how to use the ElligatorSwift module to perform
+ *  a key exchange according to BIP 324. Additionally, see the documentation
+ *  in include/secp256k1_ellswift.h and doc/ellswift.md.
+ */
+
+#include <stdio.h>
+#include <assert.h>
+#include <string.h>
+
+#include <secp256k1.h>
+#include <secp256k1_ellswift.h>
+
+#include "examples_util.h"
+
+int main(void) {
+    secp256k1_context* ctx;
+    unsigned char randomize[32];
+    unsigned char auxrand1[32];
+    unsigned char auxrand2[32];
+    unsigned char seckey1[32];
+    unsigned char seckey2[32];
+    unsigned char ellswift_pubkey1[64];
+    unsigned char ellswift_pubkey2[64];
+    unsigned char shared_secret1[32];
+    unsigned char shared_secret2[32];
+    int return_val;
+
+    /* Create a secp256k1 context */
+    ctx = secp256k1_context_create(SECP256K1_CONTEXT_NONE);
+    if (!fill_random(randomize, sizeof(randomize))) {
+        printf("Failed to generate randomness\n");
+        return 1;
+    }
+    /* Randomizing the context is recommended to protect against side-channel
+     * leakage. See `secp256k1_context_randomize` in secp256k1.h for more
+     * information about it. This should never fail. */
+    return_val = secp256k1_context_randomize(ctx, randomize);
+    assert(return_val);
+
+    /*** Generate secret keys ***/
+
+    /* If the secret key is zero or out of range (bigger than secp256k1's
+     * order), we try to sample a new key. Note that the probability of this
+     * happening is negligible. */
+    while (1) {
+        if (!fill_random(seckey1, sizeof(seckey1)) || !fill_random(seckey2, sizeof(seckey2))) {
+            printf("Failed to generate randomness\n");
+            return 1;
+        }
+        if (secp256k1_ec_seckey_verify(ctx, seckey1) && secp256k1_ec_seckey_verify(ctx, seckey2)) {
+            break;
+        }
+    }
+
+    /* Generate ElligatorSwift public keys. This should never fail with valid context and
+       verified secret keys. Note that providing additional randomness (fourth parameter) is
+       optional, but recommended. */
+    if (!fill_random(auxrand1, sizeof(auxrand1)) || !fill_random(auxrand2, sizeof(auxrand2))) {
+        printf("Failed to generate randomness\n");
+        return 1;
+    }
+    return_val = secp256k1_ellswift_create(ctx, ellswift_pubkey1, seckey1, auxrand1);
+    assert(return_val);
+    return_val = secp256k1_ellswift_create(ctx, ellswift_pubkey2, seckey2, auxrand2);
+    assert(return_val);
+
+    /*** Create the shared secret on each side ***/
+
+    /* Perform x-only ECDH with seckey1 and ellswift_pubkey2. Should never fail
+     * with a verified seckey and valid pubkey. Note that both parties pass both
+     * EllSwift pubkeys in the same order; the pubkey of the calling party is
+     * determined by the "party" boolean (sixth parameter). */
+    return_val = secp256k1_ellswift_xdh(ctx, shared_secret1, ellswift_pubkey1, ellswift_pubkey2,
+        seckey1, 0, secp256k1_ellswift_xdh_hash_function_bip324, NULL);
+    assert(return_val);
+
+    /* Perform x-only ECDH with seckey2 and ellswift_pubkey1. Should never fail
+     * with a verified seckey and valid pubkey. */
+    return_val = secp256k1_ellswift_xdh(ctx, shared_secret2, ellswift_pubkey1, ellswift_pubkey2,
+        seckey2, 1, secp256k1_ellswift_xdh_hash_function_bip324, NULL);
+    assert(return_val);
+
+    /* Both parties should end up with the same shared secret */
+    return_val = memcmp(shared_secret1, shared_secret2, sizeof(shared_secret1));
+    assert(return_val == 0);
+
+    printf(  "     Secret Key1: ");
+    print_hex(seckey1, sizeof(seckey1));
+    printf(  "EllSwift Pubkey1: ");
+    print_hex(ellswift_pubkey1, sizeof(ellswift_pubkey1));
+    printf("\n     Secret Key2: ");
+    print_hex(seckey2, sizeof(seckey2));
+    printf(  "EllSwift Pubkey2: ");
+    print_hex(ellswift_pubkey2, sizeof(ellswift_pubkey2));
+    printf("\n   Shared Secret: ");
+    print_hex(shared_secret1, sizeof(shared_secret1));
+
+    /* This will clear everything from the context and free the memory */
+    secp256k1_context_destroy(ctx);
+
+    /* It's best practice to try to clear secrets from memory after using them.
+     * This is done because some bugs can allow an attacker to leak memory, for
+     * example through "out of bounds" array access (see Heartbleed), or the OS
+     * swapping them to disk. Hence, we overwrite the secret key buffer with zeros.
+     *
+     * Here we are preventing these writes from being optimized out, as any good compiler
+     * will remove any writes that aren't used. */
+    secure_erase(seckey1, sizeof(seckey1));
+    secure_erase(seckey2, sizeof(seckey2));
+    secure_erase(shared_secret1, sizeof(shared_secret1));
+    secure_erase(shared_secret2, sizeof(shared_secret2));
+
+    return 0;
+}
diff --git a/examples/schnorr.c b/examples/schnorr.c
index 4c0dd1c1a9c7b..b0409b986bef3 100644
--- a/examples/schnorr.c
+++ b/examples/schnorr.c
@@ -146,7 +146,7 @@ int main(void) {
 
     /* It's best practice to try to clear secrets from memory after using them.
      * This is done because some bugs can allow an attacker to leak memory, for
-     * example through "out of bounds" array access (see Heartbleed), Or the OS
+     * example through "out of bounds" array access (see Heartbleed), or the OS
      * swapping them to disk. Hence, we overwrite the secret key buffer with zeros.
      *
      * Here we are preventing these writes from being optimized out, as any good compiler
diff --git a/src/tests.c b/src/tests.c
index 6b401e52c0e56..70c15f870b6ae 100644
--- a/src/tests.c
+++ b/src/tests.c
@@ -6609,14 +6609,6 @@ static void permute(size_t *arr, size_t n) {
     }
 }
 
-static void rand_pk(secp256k1_pubkey *pk) {
-    unsigned char seckey[32];
-    secp256k1_keypair keypair;
-    testrand256(seckey);
-    CHECK(secp256k1_keypair_create(CTX, &keypair, seckey) == 1);
-    CHECK(secp256k1_keypair_pub(CTX, pk, &keypair) == 1);
-}
-
 static void test_sort_api(void) {
     secp256k1_pubkey pks[2];
     const secp256k1_pubkey *pks_ptr[2];
@@ -6624,8 +6616,8 @@ static void test_sort_api(void) {
     pks_ptr[0] = &pks[0];
     pks_ptr[1] = &pks[1];
 
-    rand_pk(&pks[0]);
-    rand_pk(&pks[1]);
+    testutil_random_pubkey_test(&pks[0]);
+    testutil_random_pubkey_test(&pks[1]);
 
     CHECK(secp256k1_ec_pubkey_sort(CTX, pks_ptr, 2) == 1);
     CHECK_ILLEGAL(CTX, secp256k1_ec_pubkey_sort(CTX, NULL, 2));
@@ -6678,7 +6670,7 @@ static void test_sort(void) {
         int j;
         const secp256k1_pubkey *pk_ptr[5];
         for (j = 0; j < 5; j++) {
-            rand_pk(&pk[j]);
+            testutil_random_pubkey_test(&pk[j]);
             pk_ptr[j] = &pk[j];
         }
         secp256k1_ec_pubkey_sort(CTX, pk_ptr, 5);
diff --git a/src/testutil.h b/src/testutil.h
index 8296a5fb99ffe..fc56854dd391f 100644
--- a/src/testutil.h
+++ b/src/testutil.h
@@ -107,6 +107,12 @@ static void testutil_random_gej_test(secp256k1_gej *gej) {
     testutil_random_ge_jacobian_test(gej, &ge);
 }
 
+static void testutil_random_pubkey_test(secp256k1_pubkey *pk) {
+    secp256k1_ge ge;
+    testutil_random_ge_test(&ge);
+    secp256k1_pubkey_save(pk, &ge);
+}
+
 static void testutil_random_scalar_order_test(secp256k1_scalar *num) {
     do {
         unsigned char b32[32];