diff --git a/lib/version.py b/lib/version.py
index 63579b73e..c03923095 100644
--- a/lib/version.py
+++ b/lib/version.py
@@ -1,3 +1,3 @@
-ELECTRUM_VERSION = "1.0"
+ELECTRUM_VERSION = "1.1"
 SEED_VERSION = 4  # bump this everytime the seed generation is modified
 TRANSLATION_ID = 28344 # version of the wiki page