diff --git a/CHANGELOG.md b/CHANGELOG.md
index 428513fd2..b707025e1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+## [1.1.0-dev.3] - 2024-07-25
+
+### Features
+
+- Allow overriding genesis time in InitChain (#847)
+
 ## [1.1.0-dev.2] - 2024-07-24
 
 ### Bug Fixes
@@ -5,6 +11,10 @@
 - Address already in use (#845)
 - Active validators not always connected to each other (#844)
 
+### Miscellaneous Tasks
+
+- Update changelog and version to 1.1.0-dev.2 (#846)
+
 ## [1.1.0-dev.1] - 2024-07-23
 
 ### Features
diff --git a/version/version.go b/version/version.go
index 4ebbe38bf..deac532e8 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 = "1.1.0-dev.2"
+	TMVersionDefault = "1.1.0-dev.3"
 	// ABCISemVer is the semantic version of the ABCI library
 	ABCISemVer = "1.1.0"