diff --git a/crates/bin/pd/src/main.rs b/crates/bin/pd/src/main.rs
index 7f2ead78ca..35815c7d5a 100644
--- a/crates/bin/pd/src/main.rs
+++ b/crates/bin/pd/src/main.rs
@@ -19,8 +19,8 @@ use pd::{
         join::network_join,
     },
 };
-use penumbra_app::app_version::assert_latest_app_version;
-use penumbra_app::SUBSTORE_PREFIXES;
+use penumbra_app::app_version::check_and_update_app_version;
+use penumbra_app::{APP_VERSION, SUBSTORE_PREFIXES};
 use rand::Rng;
 use rand_core::OsRng;
 use tendermint_config::net::Address as TendermintAddress;
@@ -103,9 +103,10 @@ async fn main() -> anyhow::Result<()> {
                 .context(
                     "Unable to initialize RocksDB storage - is there another `pd` process running?",
                 )?;
-            assert_latest_app_version(storage.clone()).await?;
+            check_and_update_app_version(storage.clone()).await?;
 
             tracing::info!(
+                APP_VERSION,
                 ?abci_bind,
                 ?grpc_bind,
                 ?grpc_auto_https,
diff --git a/crates/core/app/src/app_version.rs b/crates/core/app/src/app_version.rs
index 93ad9afc47..276d64b471 100644
--- a/crates/core/app/src/app_version.rs
+++ b/crates/core/app/src/app_version.rs
@@ -5,6 +5,6 @@ pub const APP_VERSION: u64 = 8;
 cfg_if::cfg_if! {
     if #[cfg(feature="component")] {
         mod component;
-        pub use component::{assert_latest_app_version, migrate_app_version};
+        pub use component::{check_and_update_app_version, migrate_app_version};
     }
 }
diff --git a/crates/core/app/src/app_version/component.rs b/crates/core/app/src/app_version/component.rs
index 5111e36fe1..ff38395027 100644
--- a/crates/core/app/src/app_version/component.rs
+++ b/crates/core/app/src/app_version/component.rs
@@ -26,11 +26,14 @@ enum CheckContext {
     Migration,
 }
 
+/// Check that the expected version matches the found version, if it set.
+/// This will return an error if the versions do not match.
 fn check_version(ctx: CheckContext, expected: u64, found: Option<u64>) -> anyhow::Result<()> {
-    let found = match (expected, found) {
-        (x, Some(y)) if x != y => y,
-        _ => return Ok(()),
-    };
+    let found = found.unwrap_or(expected);
+    if found == expected {
+        return Ok(());
+    }
+
     match ctx {
         CheckContext::Running => {
             let expected_name = version_to_software_version(expected);