diff --git a/README.md b/README.md
index 5052e7c..0e9b8b7 100644
--- a/README.md
+++ b/README.md
@@ -21,7 +21,10 @@ The repository contains the following crates:
 
 ## Version Compatibility
 
-The major and minor versions of this library are designed to match those of [Tenderdash]. For instance, if you're working with `Tenderdash 1.2.34`, you should use `rs-tenderdash-abci 1.2.*` to ensure compatibility.
+Versioning of this library follows the Semantic Versioning 2.0.0 specification. Specifically, it consists of
+`MAJOR.MINOR.PATCH+BUILD`, where `BUILD` denotes minimum version of [Tenderdash] required.
+
+For instance, if you're working with `Tenderdash 1.3.0`, you should use `rs-tenderdash-abci 1.2.0+1.3.0`.
 
 This library also includes built-in support for ABCI protocol version verification. The ABCI protocol version, as defined in Tenderdash's [version.go](https://github.com/dashpay/tenderdash/blob/HEAD/version/version.go) under the `ABCISemVer` constant, must align with the ABCI protocol version of this library. You can find the library's ABCI protocol version in [proto/src/tenderdash.rs](proto/src/tenderdash.rs) under the `ABCI_VERSION` constant.
 
diff --git a/abci/Cargo.toml b/abci/Cargo.toml
index d5b5d18..8de1fbc 100644
--- a/abci/Cargo.toml
+++ b/abci/Cargo.toml
@@ -1,5 +1,5 @@
 [package]
-version = "1.1.0"
+version = "1.2.0+1.3.0"
 name = "tenderdash-abci"
 edition = "2021"
 license = "Apache-2.0"
diff --git a/abci/README.md b/abci/README.md
index 4804899..e711883 100644
--- a/abci/README.md
+++ b/abci/README.md
@@ -1,4 +1,4 @@
-## tendermint-abci
+# tendermint-abci
 
 [![Crate][crate-image]][crate-link]
 [![Docs][docs-image]][docs-link]
@@ -85,9 +85,7 @@ Copyright © 2021 Informal Systems
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use the files in this repository except in compliance with the License.
-You may obtain a copy of the License at
-
-    https://www.apache.org/licenses/LICENSE-2.0
+You may obtain a copy of the License at <https://www.apache.org/licenses/LICENSE-2.0> .
 
 Unless required by applicable law or agreed to in writing, software
 distributed under the License is distributed on an "AS IS" BASIS,
diff --git a/proto-compiler/Cargo.toml b/proto-compiler/Cargo.toml
index 1697a03..c4758a1 100644
--- a/proto-compiler/Cargo.toml
+++ b/proto-compiler/Cargo.toml
@@ -1,5 +1,5 @@
 [package]
-version = "1.1.0"
+version = "1.2.0+1.3.0"
 name = "tenderdash-proto-compiler"
 authors = ["Informal Systems <hello@informal.systems>", "Dash Core Group"]
 edition = "2021"
diff --git a/proto/Cargo.toml b/proto/Cargo.toml
index 83c6bcb..4b04079 100644
--- a/proto/Cargo.toml
+++ b/proto/Cargo.toml
@@ -1,5 +1,5 @@
 [package]
-version = "1.1.0"
+version = "1.2.0+1.3.0"
 name = "tenderdash-proto"
 edition = "2021"
 license = "Apache-2.0"
diff --git a/proto/build.rs b/proto/build.rs
index f74a282..f0a79ad 100644
--- a/proto/build.rs
+++ b/proto/build.rs
@@ -4,7 +4,7 @@ use tenderdash_proto_compiler::GenerationMode;
 
 fn main() {
     // default Tenderdash version to use if TENDERDASH_COMMITISH is not set
-    const DEFAULT_VERSION: &str = "68a03d69dcfaa64a6edb829b6efed40e72e8e7bd";
+    const DEFAULT_VERSION: &str = "v1.3.0";
 
     // check if TENDERDASH_COMMITISH is already set; if not, set it to the current
     // version
diff --git a/scripts/release.sh b/scripts/release.sh
index e0d4534..1a7f17a 100755
--- a/scripts/release.sh
+++ b/scripts/release.sh
@@ -1,5 +1,7 @@
 #! /bin/bash
 
+set -e
+
 PLATFORM_DIR="$(realpath "$(dirname "$0")/../../platform")"
 
 function help() {
@@ -26,6 +28,8 @@ Examples:
 EOF
 }
 
+VERBOSE=0
+
 # Parse arguments
 while [[ $# -gt 0 ]]; do
     key="$1"
@@ -52,6 +56,10 @@ while [[ $# -gt 0 ]]; do
         rs_tenderdash_abci_version=$1
         shift
         ;;
+    -v | --verbose)
+        VERBOSE=1
+        shift
+        ;;
     *)
         break
         ;;
@@ -61,19 +69,29 @@ done
 # Check if the versions are passed.
 if [ -z "$td_version" ]; then
     echo "Please specify the version of Tenderdash."
+    echo ""
+    help
     exit 1
 fi
 td_version=${td_version#v} # remove 'v' if it exists
 
 if [ -z "$rs_tenderdash_abci_version" ]; then
     echo "Please specify the version of the library."
+    echo ""
+    help
     exit 1
 fi
 
-rs_tenderdash_abci_version=${rs_tenderdash_abci_version#v} # remove 'v' if it exists
+if [ $VERBOSE -eq 1 ]; then
+    set -x
+fi
+
+rs_tenderdash_abci_version="${rs_tenderdash_abci_version#v}+${td_version}" # remove 'v' if it exists and suffix build mtd
+
+echo "INFO: Preparing release of rs-tenderdash-abci version $rs_tenderdash_abci_version with Tenderdash version $td_version"
+
+echo INFO: Update the version in the Cargo.toml files.
 
-set -ex
-# Update the version in the Cargo.toml files.
 sed -i "s/^version = .*/version = \"$rs_tenderdash_abci_version\"/" ./*/Cargo.toml
 sed -i "s/^\s*const DEFAULT_VERSION: &str = \".*\";/const DEFAULT_VERSION: \&str = \"v$td_version\";/" ./proto/build.rs
 cargo fmt -- ./proto/build.rs 2>/dev/null
@@ -88,3 +106,5 @@ else
     echo "WARN: Dash Platform not found in $PLATFORM_DIR, skipping"
 fi
 # tenderdash-proto = { git = "https://github.com/dashpay/rs-tenderdash-abci", version = "0.14.0-dev.8", features = [
+
+echo "INFO: Done"