diff --git a/.changeset/large-beds-move.md b/.changeset/large-beds-move.md
new file mode 100644
index 00000000000..f67643cb31c
--- /dev/null
+++ b/.changeset/large-beds-move.md
@@ -0,0 +1,5 @@
+---
+"@thirdweb-dev/service-utils": minor
+---
+
+pass `team` instead of `project` to `rateLimit`
diff --git a/packages/service-utils/CHANGELOG.md b/packages/service-utils/CHANGELOG.md
index 4fb828a3a14..ae330819bd6 100644
--- a/packages/service-utils/CHANGELOG.md
+++ b/packages/service-utils/CHANGELOG.md
@@ -1,5 +1,11 @@
 # @thirdweb-dev/service-utils
 
+## 0.7.3
+
+### Patch Changes
+
+- [#6084](https://github.com/thirdweb-dev/js/pull/6084) [`b5e327e`](https://github.com/thirdweb-dev/js/commit/b5e327e5ec745ce1beb9a79404fa5b11d0c5588e) Thanks [@jnsdls](https://github.com/jnsdls)! - add `billingPlanVersion` to `TeamResponse`
+
 ## 0.7.2
 
 ### Patch Changes
diff --git a/packages/service-utils/package.json b/packages/service-utils/package.json
index 9123815b242..373716f225e 100644
--- a/packages/service-utils/package.json
+++ b/packages/service-utils/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@thirdweb-dev/service-utils",
-  "version": "0.7.2",
+  "version": "0.7.3",
   "type": "module",
   "main": "dist/cjs/index.js",
   "module": "dist/esm/index.js",
diff --git a/packages/service-utils/src/core/api.ts b/packages/service-utils/src/core/api.ts
index 20dbb489ed1..cc16ea4854d 100644
--- a/packages/service-utils/src/core/api.ts
+++ b/packages/service-utils/src/core/api.ts
@@ -45,6 +45,7 @@ export type TeamResponse = {
   slug: string;
   image: string | null;
   billingPlan: "free" | "starter" | "growth" | "pro";
+  billingPlanVersion: number;
   createdAt: Date;
   updatedAt: Date | null;
   billingEmail: string | null;
@@ -163,24 +164,3 @@ export async function fetchTeamAndProject(
     );
   }
 }
-
-export async function updateRateLimitedAt(
-  projectId: string,
-  config: CoreServiceConfig,
-): Promise<void> {
-  const { apiUrl, serviceScope: scope, serviceApiKey } = config;
-
-  const url = `${apiUrl}/usage/rateLimit`;
-
-  await fetch(url, {
-    method: "PUT",
-    headers: {
-      "x-service-api-key": serviceApiKey,
-      "content-type": "application/json",
-    },
-    body: JSON.stringify({
-      apiKeyId: projectId, // projectId is the apiKeyId
-      scope,
-    }),
-  });
-}
diff --git a/packages/service-utils/src/core/rateLimit/index.ts b/packages/service-utils/src/core/rateLimit/index.ts
index 10a90fabcbc..89584379f67 100644
--- a/packages/service-utils/src/core/rateLimit/index.ts
+++ b/packages/service-utils/src/core/rateLimit/index.ts
@@ -1,8 +1,4 @@
-import {
-  type CoreServiceConfig,
-  type ProjectResponse,
-  updateRateLimitedAt,
-} from "../api.js";
+import type { CoreServiceConfig, TeamResponse } from "../api.js";
 import type { RateLimitResult } from "./types.js";
 
 const RATE_LIMIT_WINDOW_SECONDS = 10;
@@ -14,7 +10,7 @@ type IRedis = {
 };
 
 export async function rateLimit(args: {
-  project?: ProjectResponse;
+  team: TeamResponse;
   limitPerSecond: number;
   serviceConfig: CoreServiceConfig;
   redis: IRedis;
@@ -25,13 +21,7 @@ export async function rateLimit(args: {
    */
   sampleRate?: number;
 }): Promise<RateLimitResult> {
-  const {
-    project,
-    limitPerSecond,
-    serviceConfig,
-    redis,
-    sampleRate = 1.0,
-  } = args;
+  const { team, limitPerSecond, serviceConfig, redis, sampleRate = 1.0 } = args;
 
   const shouldSampleRequest = Math.random() < sampleRate;
   if (!shouldSampleRequest) {
@@ -57,7 +47,7 @@ export async function rateLimit(args: {
   const timestampWindow =
     Math.floor(Date.now() / (1000 * RATE_LIMIT_WINDOW_SECONDS)) *
     RATE_LIMIT_WINDOW_SECONDS;
-  const key = `rate-limit:${serviceScope}:${project?.id}:${timestampWindow}`;
+  const key = `rate-limit:${serviceScope}:${team.id}:${timestampWindow}`;
 
   // Increment and get the current request count in this window.
   const requestCount = await redis.incr(key);
@@ -71,17 +61,6 @@ export async function rateLimit(args: {
     limitPerSecond * sampleRate * RATE_LIMIT_WINDOW_SECONDS;
 
   if (requestCount > limitPerWindow) {
-    /**
-     * Report rate limit hits.
-     * Only track rate limit when its hit for the first time.
-     * Not waiting for tracking to complete as user doesn't need to wait.
-     */
-    if (requestCount === limitPerWindow + 1 && project?.id) {
-      updateRateLimitedAt(project.id, serviceConfig).catch(() => {
-        // no-op
-      });
-    }
-
     return {
       rateLimited: true,
       requestCount,
diff --git a/packages/service-utils/src/core/rateLimit/rateLimit.test.ts b/packages/service-utils/src/core/rateLimit/rateLimit.test.ts
index 203bd0e08de..04832eccb4c 100644
--- a/packages/service-utils/src/core/rateLimit/rateLimit.test.ts
+++ b/packages/service-utils/src/core/rateLimit/rateLimit.test.ts
@@ -1,6 +1,5 @@
 import { afterEach, beforeEach, describe, expect, it, vi } from "vitest";
-import { validProjectResponse, validServiceConfig } from "../../mocks.js";
-import { updateRateLimitedAt } from "../api.js";
+import { validServiceConfig, validTeamResponse } from "../../mocks.js";
 import { rateLimit } from "./index.js";
 
 const mockRedis = {
@@ -8,11 +7,6 @@ const mockRedis = {
   expire: vi.fn(),
 };
 
-// Mocking the updateRateLimitedAt function
-vi.mock("../../../src/core/api", () => ({
-  updateRateLimitedAt: vi.fn().mockResolvedValue({}),
-}));
-
 describe("rateLimit", () => {
   beforeEach(() => {
     // Clear mock function calls and reset any necessary state.
@@ -27,7 +21,7 @@ describe("rateLimit", () => {
 
   it("should not rate limit if service scope is not in rate limits", async () => {
     const result = await rateLimit({
-      project: validProjectResponse,
+      team: validTeamResponse,
       limitPerSecond: 0,
       serviceConfig: validServiceConfig,
       redis: mockRedis,
@@ -44,7 +38,7 @@ describe("rateLimit", () => {
     mockRedis.incr.mockResolvedValue(50); // Current count is 50 requests in 10 seconds.
 
     const result = await rateLimit({
-      project: validProjectResponse,
+      team: validTeamResponse,
       limitPerSecond: 5,
       serviceConfig: validServiceConfig,
       redis: mockRedis,
@@ -55,7 +49,7 @@ describe("rateLimit", () => {
       requestCount: 50,
       rateLimit: 50,
     });
-    expect(updateRateLimitedAt).not.toHaveBeenCalled();
+
     expect(mockRedis.expire).not.toHaveBeenCalled();
   });
 
@@ -63,7 +57,7 @@ describe("rateLimit", () => {
     mockRedis.incr.mockResolvedValue(51);
 
     const result = await rateLimit({
-      project: validProjectResponse,
+      team: validTeamResponse,
       limitPerSecond: 5,
       serviceConfig: validServiceConfig,
       redis: mockRedis,
@@ -77,7 +71,7 @@ describe("rateLimit", () => {
       errorMessage: `You've exceeded your storage rate limit at 5 reqs/sec. To get higher rate limits, contact us at https://thirdweb.com/contact-us.`,
       errorCode: "RATE_LIMIT_EXCEEDED",
     });
-    expect(updateRateLimitedAt).toHaveBeenCalled();
+
     expect(mockRedis.expire).not.toHaveBeenCalled();
   });
 
@@ -85,7 +79,7 @@ describe("rateLimit", () => {
     mockRedis.incr.mockResolvedValue(1);
 
     const result = await rateLimit({
-      project: validProjectResponse,
+      team: validTeamResponse,
       limitPerSecond: 5,
       serviceConfig: validServiceConfig,
       redis: mockRedis,
@@ -104,7 +98,7 @@ describe("rateLimit", () => {
     vi.spyOn(global.Math, "random").mockReturnValue(0.08);
 
     const result = await rateLimit({
-      project: validProjectResponse,
+      team: validTeamResponse,
       limitPerSecond: 5,
       serviceConfig: validServiceConfig,
       redis: mockRedis,
@@ -127,7 +121,7 @@ describe("rateLimit", () => {
     vi.spyOn(global.Math, "random").mockReturnValue(0.15);
 
     const result = await rateLimit({
-      project: validProjectResponse,
+      team: validTeamResponse,
       limitPerSecond: 5,
       serviceConfig: validServiceConfig,
       redis: mockRedis,
diff --git a/packages/service-utils/src/index.ts b/packages/service-utils/src/index.ts
index d1e79b62a5b..2bb94013d76 100644
--- a/packages/service-utils/src/index.ts
+++ b/packages/service-utils/src/index.ts
@@ -10,7 +10,7 @@ export type {
   TeamResponse,
 } from "./core/api.js";
 
-export { fetchTeamAndProject, updateRateLimitedAt } from "./core/api.js";
+export { fetchTeamAndProject } from "./core/api.js";
 
 export {
   authorizeBundleId,
diff --git a/packages/service-utils/src/mocks.ts b/packages/service-utils/src/mocks.ts
index 5902dacd5aa..85627a7247c 100644
--- a/packages/service-utils/src/mocks.ts
+++ b/packages/service-utils/src/mocks.ts
@@ -42,6 +42,7 @@ export const validTeamResponse: TeamResponse = {
   createdAt: new Date("2024-06-01"),
   updatedAt: new Date("2024-06-01"),
   billingPlan: "free",
+  billingPlanVersion: 1,
   billingEmail: "test@example.com",
   billingStatus: "noPayment",
   growthTrialEligible: false,