diff --git a/lbrynet/__init__.py b/lbrynet/__init__.py
index fa7efce38..2b8cb27d6 100644
--- a/lbrynet/__init__.py
+++ b/lbrynet/__init__.py
@@ -1,4 +1,4 @@
 __name__ = "lbrynet"
-__version__ = "0.37.1"
+__version__ = "0.38.0rc1"
 version = tuple(__version__.split('.'))