diff --git a/VERSION b/VERSION
index 7179039691ce07a214e7a815893fee97a97b1422..0d91a54c7d439e84e3dd17d3594f1b2b6737f430 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.2.3
+0.3.0
diff --git a/synapse/__init__.py b/synapse/__init__.py
index d60267ebe47530810f657bb4ff450a8365b01863..8ef176ea6f743d9639d2e0cc863e7b5dd51ea313 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a synapse home server.
 """
 
-__version__ = "0.2.3"
+__version__ = "0.3.0"