diff --git a/hwilib/__init__.py b/hwilib/__init__.py
index 528787cfc..cc202575a 100644
--- a/hwilib/__init__.py
+++ b/hwilib/__init__.py
@@ -1 +1 @@
-__version__ = "3.0.0"
+__version__ = "3.1.0-rc.1"
diff --git a/pyproject.toml b/pyproject.toml
index a3abeff6d..86799bf4a 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "hwi"
-version = "3.0.0"
+version = "3.1.0-rc.1"
 description = "A library for working with Bitcoin hardware wallets"
 authors = ["Ava Chow <me@achow101.com>"]
 license = "MIT"
diff --git a/setup.py b/setup.py
index 00f56e099..da9a97ea4 100644
--- a/setup.py
+++ b/setup.py
@@ -47,7 +47,7 @@
 
 setup_kwargs = {
     'name': 'hwi',
-    'version': '3.0.0',
+    'version': '3.1.0rc1',
     'description': 'A library for working with Bitcoin hardware wallets',
     'long_description': "# Bitcoin Hardware Wallet Interface\n\n[![Build Status](https://api.cirrus-ci.com/github/bitcoin-core/HWI.svg)](https://cirrus-ci.com/github/bitcoin-core/HWI)\n[![Documentation Status](https://readthedocs.org/projects/hwi/badge/?version=latest)](https://hwi.readthedocs.io/en/latest/?badge=latest)\n\nThe Bitcoin Hardware Wallet Interface is a Python library and command line tool for interacting with hardware wallets.\nIt provides a standard way for software to work with hardware wallets without needing to implement device specific drivers.\nPython software can use the provided library (`hwilib`). Software in other languages can execute the `hwi` tool.\n\nCaveat emptor: Inclusion of a specific hardware wallet vendor does not imply any endorsement of quality or security.\n\n## Prerequisites\n\nPython 3 is required. The libraries and [udev rules](hwilib/udev/README.md) for each device must also be installed. Some libraries will need to be installed\n\nFor Ubuntu/Debian:\n```\nsudo apt install libusb-1.0-0-dev libudev-dev python3-dev\n```\n\nFor Centos:\n```\nsudo yum -y install python3-devel libusbx-devel systemd-devel\n```\n\nFor macOS:\n```\nbrew install libusb\n```\n\n## Install\n\n```\ngit clone https://github.com/bitcoin-core/HWI.git\ncd HWI\npoetry install # or 'pip3 install .' or 'python3 setup.py install'\n```\n\nThis project uses the [Poetry](https://github.com/sdispater/poetry) dependency manager. HWI and its dependencies can be installed via poetry by executing the following in the root source directory:\n\n```\npoetry install\n```\n\nPip can also be used to automatically install HWI and its dependencies using the `setup.py` file (which is usually in sync with `pyproject.toml`):\n\n```\npip3 install .\n```\n\nThe `setup.py` file can be used to install HWI and its dependencies so long as `setuptools` is also installed:\n\n```\npip3 install -U setuptools\npython3 setup.py install\n```\n\n## Dependencies\n\nSee `pyproject.toml` for all dependencies. Dependencies under `[tool.poetry.dependencies]` are user dependencies, and `[tool.poetry.dev-dependencies]` for development based dependencies. These dependencies will be installed with any of the three above installation methods.\n\n## Usage\n\nTo use, first enumerate all devices and find the one that you want to use with\n\n```\n./hwi.py enumerate\n```\n\nOnce the device type and device path are known, issue commands to it like so:\n\n```\n./hwi.py -t <type> -d <path> <command> <command args>\n```\n\nAll output will be in JSON form and sent to `stdout`.\nAdditional information or prompts will be sent to `stderr` and will not necessarily be in JSON.\nThis additional information is for debugging purposes.\n\nTo see a complete list of available commands and global parameters, run\n`./hwi.py --help`.  To see options specific to a particular command,\npass the `--help` parameter after the command name; for example:\n\n```\n./hwi.py getdescriptors --help\n```\n\n## Documentation\n\nDocumentation for HWI can be found on [readthedocs.io](https://hwi.readthedocs.io/).\n\n### Device Support\n\nFor documentation on devices supported and how they are supported, please check the [device support page](https://hwi.readthedocs.io/en/latest/devices/index.html#support-matrix)\n\n### Using with Bitcoin Core\n\nSee [Using Bitcoin Core with Hardware Wallets](https://hwi.readthedocs.io/en/latest/examples/bitcoin-core-usage.html).\n\n## License\n\nThis project is available under the MIT License, Copyright Andrew Chow.\n",
     'author': 'Ava Chow',