diff --git a/modules/Cargo.toml b/modules/Cargo.toml
index 664cf45e61..58baeefdaa 100644
--- a/modules/Cargo.toml
+++ b/modules/Cargo.toml
@@ -21,7 +21,7 @@ mocks = [ "tendermint-testgen" ]
 
 [dependencies]
 # Proto definitions for all IBC-related interfaces, e.g., connections or channels.
-ibc-proto = { version = "0.4.0", path = "../proto" }
+ibc-proto = { version = "0.5.0", path = "../proto" }
 
 anomaly = "0.2.0"
 chrono = "0.4"
diff --git a/proto/Cargo.toml b/proto/Cargo.toml
index bc7cb07746..01215b7e89 100644
--- a/proto/Cargo.toml
+++ b/proto/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "ibc-proto"
-version = "0.4.0"
+version = "0.5.0"
 authors = ["Greg Szabo <greg@informal.systems>"]
 edition = "2018"
 license = "Apache-2.0"
diff --git a/relayer/Cargo.toml b/relayer/Cargo.toml
index 37e0545a34..60f0030985 100644
--- a/relayer/Cargo.toml
+++ b/relayer/Cargo.toml
@@ -8,7 +8,7 @@ authors = [
 
 [dependencies]
 ibc = { path = "../modules" }
-ibc-proto = { version = "0.4.0", path = "../proto" }
+ibc-proto = { version = "0.5.0", path = "../proto" }
 anomaly = "0.2.0"
 async-trait = "0.1.24"
 humantime-serde = "1.0.0"