diff --git a/VERSION b/VERSION
index 8df6b88a91..38f77a65b3 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.5.14
+2.0.1
diff --git a/params/version.go b/params/version.go
index 21a1557e88..9af45db77d 100644
--- a/params/version.go
+++ b/params/version.go
@@ -19,10 +19,10 @@ package params
 import "fmt"
 
 const (
-	VersionMajor = 1      // Major version component of the current release
-	VersionMinor = 5      // Minor version component of the current release
-	VersionPatch = 14     // Patch version component of the current release
-	VersionMeta  = "flux" // Version metadata to append to the version string
+	VersionMajor = 2      // Major version component of the current release
+	VersionMinor = 0      // Minor version component of the current release
+	VersionPatch = 1      // Patch version component of the current release
+	VersionMeta  = "uip1" // Version metadata to append to the version string
 )
 
 // Version holds the textual version string.