diff --git a/README.md b/README.md
index ef9a1ac3..f8f5dc48 100644
--- a/README.md
+++ b/README.md
@@ -77,7 +77,7 @@ rm -r ~/.paloma/data/wasm/cache
 ### To get the latest prebuilt `palomad` binary:
 
 ```shell
-wget -O - https://github.com/palomachain/paloma/releases/download/v1.3.1/paloma_Linux_x86_64.tar.gz  | \
+wget -O - https://github.com/palomachain/paloma/releases/download/v1.4.0/paloma_Linux_x86_64.tar.gz  | \
   sudo tar -C ~/ -xvzf - palomad
 sudo chmod +x /usr/local/bin/palomad
 ```
@@ -87,7 +87,7 @@ sudo chmod +x /usr/local/bin/palomad
 ```shell
 git clone https://github.com/palomachain/paloma.git
 cd paloma
-git checkout v1.3.1
+git checkout v1.4.0
 make build
 sudo mv ./build/palomad /usr/local/bin/palomad
 ```
diff --git a/RELEASE_NOTES.md b/RELEASE_NOTES.md
new file mode 100644
index 00000000..1e8fd107
--- /dev/null
+++ b/RELEASE_NOTES.md
@@ -0,0 +1,19 @@
+## What's Changed
+* Update readme for next release by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/884
+* Slow down rejailing slightly by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/888
+* Bring readme instructions up to date by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/890
+* Adding commands for managing snapshots by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/891
+* Adding fee management through governance by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/892
+* Fixing goreleaser config for removed functionality by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/895
+* Don't jail when starting up a new chain by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/896
+* 🔧 fix: #265 remove yaml marshalling in endblock logging by @byte-bandit in https://github.com/palomachain/paloma/pull/897
+* feat: #254 Jail pigeons after timeout by @byte-bandit in https://github.com/palomachain/paloma/pull/898
+* Revert "feat: #254 Jail pigeons after timeout" by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/902
+* Relayer Scheduling Logic by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/900
+* Make schedling more spread across validators by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/903
+* Updating the PR template to match our usage by @ToasterTheBrave in https://github.com/palomachain/paloma/pull/904
+
+## New Contributors
+* @byte-bandit made their first contribution in https://github.com/palomachain/paloma/pull/897
+
+**Full Changelog**: https://github.com/palomachain/paloma/compare/v1.3.1...v1.4.0