diff --git a/Cargo.lock b/Cargo.lock
index d1d2816..af435fd 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -78,7 +78,7 @@ checksum = "8f68f53c83ab957f72c32642f3868eec03eb974d1fb82e453128456482613d36"
 
 [[package]]
 name = "casper-node-launcher"
-version = "1.0.6"
+version = "1.0.7"
 dependencies = [
  "anyhow",
  "backtrace",
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
new file mode 100644
index 0000000..3d10b2a
--- /dev/null
+++ b/rust-toolchain.toml
@@ -0,0 +1,3 @@
+[toolchain]
+channel = "1.85.1"
+components = ["clippy", "rustfmt"]
\ No newline at end of file
diff --git a/src/launcher.rs b/src/launcher.rs
index 393235c..53ee1dc 100644
--- a/src/launcher.rs
+++ b/src/launcher.rs
@@ -200,24 +200,21 @@ impl Launcher {
     /// Tries to load the stored state from disk.
     fn try_load_state(&self) -> Result<Option<State>> {
         let state_path = self.state_path();
-        state_path
-            .exists()
-            .then(|| {
-                debug!(path=%state_path.display(), "trying to read stored state");
-                let contents = utils::map_and_log_error(
-                    fs::read_to_string(&state_path),
-                    format!("failed to read {}", state_path.display()),
-                )?;
-
-                Ok(Some(utils::map_and_log_error(
-                    toml::from_str(&contents),
-                    format!("failed to parse {}", state_path.display()),
-                )?))
-            })
-            .unwrap_or_else(|| {
-                debug!(path=%state_path.display(), "stored state doesn't exist");
-                Ok(None)
-            })
+        if state_path.exists() {
+            debug!(path=%state_path.display(), "trying to read stored state");
+            let contents = utils::map_and_log_error(
+                fs::read_to_string(&state_path),
+                format!("failed to read {}", state_path.display()),
+            )?;
+
+            Ok(Some(utils::map_and_log_error(
+                toml::from_str(&contents),
+                format!("failed to parse {}", state_path.display()),
+            )?))
+        } else {
+            debug!(path=%state_path.display(), "stored state doesn't exist");
+            Ok(None)
+        }
     }
 
     /// Writes `self` to the hard-coded location as a TOML-encoded file.
@@ -418,7 +415,7 @@ impl Launcher {
             info!("running shutdown script at {}.", SHUTDOWN_SCRIPT_PATH);
             let status = utils::map_and_log_error(
                 Command::new(SHUTDOWN_SCRIPT_PATH).status(),
-                format!("couldn't execute script at {}", SHUTDOWN_SCRIPT_PATH),
+                format!("couldn't execute script at {SHUTDOWN_SCRIPT_PATH}"),
             )?;
             status.code().unwrap_or_else(|| {
                 error!("shutdown script was terminated by a signal.");
diff --git a/src/main.rs b/src/main.rs
index 738cc22..8cde0f6 100644
--- a/src/main.rs
+++ b/src/main.rs
@@ -42,13 +42,13 @@ fn stop_child() {
 fn panic_hook(info: &PanicHookInfo) {
     let backtrace = Backtrace::new();
 
-    eprintln!("{:?}", backtrace);
+    eprintln!("{backtrace:?}");
 
     // Print panic info.
     if let Some(&string) = info.payload().downcast_ref::<&str>() {
-        eprintln!("node panicked: {}", string);
+        eprintln!("node panicked: {string}");
     } else {
-        eprintln!("{}", info);
+        eprintln!("{info}");
     }
 
     stop_child()
@@ -80,7 +80,7 @@ fn main() -> Result<()> {
                 .long("force-version")
                 .value_name("version")
                 .help("Forces the launcher to run the specified version of the node, for example \"1.2.3\"")
-                .validator(|arg: &str| Version::from_str(arg).map_err(|_| format!("unable to parse '{}' as version", arg)))
+                .validator(|arg: &str| Version::from_str(arg).map_err(|_| format!("unable to parse '{arg}' as version")))
                 .required(false)
                 .takes_value(true),
         )
diff --git a/src/utils.rs b/src/utils.rs
index 7c52cbe..b8d9018 100644
--- a/src/utils.rs
+++ b/src/utils.rs
@@ -111,20 +111,20 @@ pub(crate) fn versions_from_path<P: AsRef<Path>>(dir: P) -> Result<BTreeSet<Vers
 
 /// Runs the given command as a child process.
 pub(crate) fn run_node(mut command: Command) -> Result<NodeExitCode> {
-    let mut child = map_and_log_error(command.spawn(), format!("failed to execute {:?}", command))?;
+    let mut child = map_and_log_error(command.spawn(), format!("failed to execute {command:?}"))?;
     crate::CHILD_PID.store(child.id(), Ordering::SeqCst);
 
     let exit_status = map_and_log_error(
         child.wait(),
-        format!("failed to wait for completion of {:?}", command),
+        format!("failed to wait for completion of {command:?}"),
     )?;
     match exit_status.code() {
         Some(code) if code == NodeExitCode::Success as i32 => {
-            debug!("successfully finished running {:?}", command);
+            debug!("successfully finished running {command:?}");
             Ok(NodeExitCode::Success)
         }
         Some(code) if code == NodeExitCode::ShouldDowngrade as i32 => {
-            debug!("finished running {:?} - should downgrade now", command);
+            debug!("finished running {command:?} - should downgrade now");
             Ok(NodeExitCode::ShouldDowngrade)
         }
         Some(code) if code == NodeExitCode::ShouldExitLauncher as i32 => {
@@ -135,8 +135,8 @@ pub(crate) fn run_node(mut command: Command) -> Result<NodeExitCode> {
             Ok(NodeExitCode::ShouldExitLauncher)
         }
         _ => {
-            warn!(%exit_status, "failed running {:?}", command);
-            bail!("{:?} exited with error", command);
+            warn!(%exit_status, "failed running {command:?}");
+            bail!("{command:?} exited with error");
         }
     }
 }
@@ -149,7 +149,7 @@ pub(crate) fn map_and_log_error<T, E: std::error::Error + Send + Sync + 'static>
     match result {
         Ok(t) => Ok(t),
         Err(error) => {
-            warn!(%error, "{}", error_msg);
+            warn!(%error, "{error_msg}");
             Err(Error::new(error).context(error_msg))
         }
     }
@@ -165,9 +165,9 @@ where
     // This function should ideally be replaced with `itertools::join()`.
     // However, currently, it is only used to produce a proper debug message,
     // which is not sufficient justification to add a dependency to `itertools`.
-    let result = iterable.into_iter().fold(String::new(), |result, item| {
-        format!("{}{}, ", result, item)
-    });
+    let result = iterable
+        .into_iter()
+        .fold(String::new(), |result, item| format!("{result}{item}, "));
     if result.is_empty() {
         result
     } else {