diff --git a/CHANGELOG.md b/CHANGELOG.md
index 634a4057a9..feca331ea9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,21 +2,9 @@
 
 # UNRELEASED
 
-- Add Market PendingProposals API / CLI. ([filecoin-project/lotus#12724](https://github.com/filecoin-project/lotus/pull/12724))
-- Fix checkpointed tipsets being expanded #12747
+# UNRELEASED v1.32.0
 
-## Improvements
-
-- The miner actor builtin `QAPowerForWeight` no longer accepts the unused "dealWeight" parameter, the function signature now only takes 3 arguments: sectorSize, sectorDuration, verifiedWeight. ([filecoin-project/lotus#12445](https://github.com/filecoin-project/lotus/pull/12445))
-
-## Bug Fixes
-
-- Make `EthTraceFilter` / `trace_filter` skip null rounds instead of erroring. ([filecoin-project/lotus#12702](https://github.com/filecoin-project/lotus/pull/12702))
-- Event APIs (`GetActorEventsRaw`, `SubscribeActorEventsRaw`, `eth_getLogs`, `eth_newFilter`, etc.) will now return an error when a request matches more than `MaxFilterResults` (default: 10,000) rather than silently truncating the results. Also apply an internal event matcher for `eth_getLogs` (etc.) to avoid builtin actor events on database query so as not to include them in `MaxFilterResults` calculation. ([filecoin-project/lotus#12671](https://github.com/filecoin-project/lotus/pull/12671))
-- `ChainIndexer#GetMsgInfo` returns an `ErrNotFound` when there are no rows. ([filecoin-project/lotus#12680](https://github.com/filecoin-project/lotus/pull/12680))
-- Gracefully handle EAM CreateAccount failures in `EthTraceBlock` (`trace_block`) and `EthTraceTransaction` (`trace_transaction`) calls. ([filecoin-project/lotus#12730](https://github.com/filecoin-project/lotus/pull/12730))
-
-## New Features
+See https://github.com/filecoin-project/lotus/blob/release/v1.32.0/CHANGELOG.md
 
 # Node and Miner v1.31.0 / 2024-12-02
 
diff --git a/build/openrpc/full.json b/build/openrpc/full.json
index 3cceadcc53..8f08e38e31 100644
--- a/build/openrpc/full.json
+++ b/build/openrpc/full.json
@@ -2,7 +2,7 @@
     "openrpc": "1.2.6",
     "info": {
         "title": "Lotus RPC API",
-        "version": "1.31.1-dev"
+        "version": "1.32.1-dev"
     },
     "methods": [
         {
diff --git a/build/openrpc/gateway.json b/build/openrpc/gateway.json
index e865a6b93b..062a0aa05f 100644
--- a/build/openrpc/gateway.json
+++ b/build/openrpc/gateway.json
@@ -2,7 +2,7 @@
     "openrpc": "1.2.6",
     "info": {
         "title": "Lotus RPC API",
-        "version": "1.31.1-dev"
+        "version": "1.32.1-dev"
     },
     "methods": [
         {
diff --git a/build/openrpc/miner.json b/build/openrpc/miner.json
index a017babc57..4023be168b 100644
--- a/build/openrpc/miner.json
+++ b/build/openrpc/miner.json
@@ -2,7 +2,7 @@
     "openrpc": "1.2.6",
     "info": {
         "title": "Lotus RPC API",
-        "version": "1.31.1-dev"
+        "version": "1.32.1-dev"
     },
     "methods": [
         {
diff --git a/build/openrpc/worker.json b/build/openrpc/worker.json
index e28c381125..522368655c 100644
--- a/build/openrpc/worker.json
+++ b/build/openrpc/worker.json
@@ -2,7 +2,7 @@
     "openrpc": "1.2.6",
     "info": {
         "title": "Lotus RPC API",
-        "version": "1.31.1-dev"
+        "version": "1.32.1-dev"
     },
     "methods": [
         {
diff --git a/build/version.go b/build/version.go
index 3d15be9870..387f1e292b 100644
--- a/build/version.go
+++ b/build/version.go
@@ -7,7 +7,7 @@ import (
 )
 
 // NodeBuildVersion is the local build version of the Lotus daemon
-const NodeBuildVersion string = "1.31.1-dev"
+const NodeBuildVersion string = "1.32.1-dev"
 
 func NodeUserVersion() BuildVersion {
 	if os.Getenv("LOTUS_VERSION_IGNORE_COMMIT") == "1" {
@@ -18,7 +18,7 @@ func NodeUserVersion() BuildVersion {
 }
 
 // MinerBuildVersion is the local build version of the Lotus miner
-const MinerBuildVersion = "1.31.1-dev"
+const MinerBuildVersion = "1.32.1-dev"
 
 func MinerUserVersion() BuildVersion {
 	if os.Getenv("LOTUS_VERSION_IGNORE_COMMIT") == "1" {
diff --git a/documentation/en/cli-lotus-miner.md b/documentation/en/cli-lotus-miner.md
index 7676a4e88e..c483ac7b1b 100644
--- a/documentation/en/cli-lotus-miner.md
+++ b/documentation/en/cli-lotus-miner.md
@@ -7,7 +7,7 @@ USAGE:
    lotus-miner [global options] command [command options] [arguments...]
 
 VERSION:
-   1.31.1-dev
+   1.32.1-dev
 
 COMMANDS:
    init          Initialize a lotus miner repo
diff --git a/documentation/en/cli-lotus-worker.md b/documentation/en/cli-lotus-worker.md
index 0bad6a1a7a..81b639f728 100644
--- a/documentation/en/cli-lotus-worker.md
+++ b/documentation/en/cli-lotus-worker.md
@@ -7,7 +7,7 @@ USAGE:
    lotus-worker [global options] command [command options] [arguments...]
 
 VERSION:
-   1.31.1-dev
+   1.32.1-dev
 
 COMMANDS:
    run        Start lotus worker
diff --git a/documentation/en/cli-lotus.md b/documentation/en/cli-lotus.md
index 7057df1578..701688ad34 100644
--- a/documentation/en/cli-lotus.md
+++ b/documentation/en/cli-lotus.md
@@ -7,7 +7,7 @@ USAGE:
    lotus [global options] command [command options] [arguments...]
 
 VERSION:
-   1.31.1-dev
+   1.32.1-dev
 
 COMMANDS:
    daemon   Start a lotus daemon process