diff --git a/packaging/templates/package_scripts/control b/packaging/templates/package_scripts/control
index fadcfc6c91..e4f0463fc2 100644
--- a/packaging/templates/package_scripts/control
+++ b/packaging/templates/package_scripts/control
@@ -1,5 +1,5 @@
 Source: bor
-Version: 1.1.0
+Version: 1.2.0-beta
 Section: develop
 Priority: standard
 Maintainer: Polygon <release-team@polygon.technology>
diff --git a/packaging/templates/package_scripts/control.arm64 b/packaging/templates/package_scripts/control.arm64
index d2a1986329..04a59510f7 100644
--- a/packaging/templates/package_scripts/control.arm64
+++ b/packaging/templates/package_scripts/control.arm64
@@ -1,5 +1,5 @@
 Source: bor
-Version: 1.1.0
+Version: 1.2.0-beta
 Section: develop
 Priority: standard
 Maintainer: Polygon <release-team@polygon.technology>
diff --git a/packaging/templates/package_scripts/control.profile.amd64 b/packaging/templates/package_scripts/control.profile.amd64
index 96a364fa48..f83b21148d 100644
--- a/packaging/templates/package_scripts/control.profile.amd64
+++ b/packaging/templates/package_scripts/control.profile.amd64
@@ -1,5 +1,5 @@
 Source: bor-profile
-Version: 1.1.0
+Version: 1.2.0-beta
 Section: develop
 Priority: standard
 Maintainer: Polygon <release-team@polygon.technology>
diff --git a/packaging/templates/package_scripts/control.profile.arm64 b/packaging/templates/package_scripts/control.profile.arm64
index 3c42c4cbd4..e39ecda6d1 100644
--- a/packaging/templates/package_scripts/control.profile.arm64
+++ b/packaging/templates/package_scripts/control.profile.arm64
@@ -1,5 +1,5 @@
 Source: bor-profile
-Version: 1.1.0
+Version: 1.2.0-beta
 Section: develop
 Priority: standard
 Maintainer: Polygon <release-team@polygon.technology>
diff --git a/packaging/templates/package_scripts/control.validator b/packaging/templates/package_scripts/control.validator
index 4d9224084d..f201053311 100644
--- a/packaging/templates/package_scripts/control.validator
+++ b/packaging/templates/package_scripts/control.validator
@@ -1,5 +1,5 @@
 Source: bor-profile
-Version: 1.1.0
+Version: 1.2.0-beta
 Section: develop
 Priority: standard
 Maintainer: Polygon <release-team@polygon.technology>
diff --git a/packaging/templates/package_scripts/control.validator.arm64 b/packaging/templates/package_scripts/control.validator.arm64
index 5810ee8043..fa5360da07 100644
--- a/packaging/templates/package_scripts/control.validator.arm64
+++ b/packaging/templates/package_scripts/control.validator.arm64
@@ -1,5 +1,5 @@
 Source: bor-profile
-Version: 1.1.0
+Version: 1.2.0-beta
 Section: develop
 Priority: standard
 Maintainer: Polygon <release-team@polygon.technology>
diff --git a/params/version.go b/params/version.go
index f0a890364f..d942ddf483 100644
--- a/params/version.go
+++ b/params/version.go
@@ -21,10 +21,10 @@ import (
 )
 
 const (
-	VersionMajor = 1  // Major version component of the current release
-	VersionMinor = 1  // Minor version component of the current release
-	VersionPatch = 0  // Patch version component of the current release
-	VersionMeta  = "" // Version metadata to append to the version string
+	VersionMajor = 1      // Major version component of the current release
+	VersionMinor = 2      // Minor version component of the current release
+	VersionPatch = 0      // Patch version component of the current release
+	VersionMeta  = "beta" // Version metadata to append to the version string
 )
 
 var GitCommit string