diff --git a/Cargo.toml b/Cargo.toml
index d90e11f..431b199 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "bt_decode"
-version = "0.7.0"
+version = "0.7.1-rc.1"
 edition = "2021"
 
 [lib]
diff --git a/pyproject.toml b/pyproject.toml
index cd4ed08..d997491 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "bt-decode"
-version = "0.7.0"
+version = "0.7.1-rc.1"
 description = "A wrapper around the scale-codec crate for fast scale-decoding of Bittensor data structures."
 readme = "README.md"
 license = {file = "LICENSE"}