diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 01196d5..c1d6c37 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  "launchdarkly-server-sdk": "3.1.2"
+  "launchdarkly-server-sdk": "3.2.0"
 }
diff --git a/launchdarkly-server-sdk/CHANGELOG.md b/launchdarkly-server-sdk/CHANGELOG.md
index c2328d3..4805449 100644
--- a/launchdarkly-server-sdk/CHANGELOG.md
+++ b/launchdarkly-server-sdk/CHANGELOG.md
@@ -2,6 +2,14 @@
 
 All notable changes to the LaunchDarkly Rust server-side SDK will be documented in this file. This project adheres to [Semantic Versioning](http://semver.org).
 
+## [3.2.0](https://github.com/launchdarkly/rust-server-sdk/compare/3.1.2...3.2.0) (2026-08-10)
+
+
+### Features
+
+* Add FDv2 wire format and protocol handler ([#177](https://github.com/launchdarkly/rust-server-sdk/issues/177)) ([a94f88c](https://github.com/launchdarkly/rust-server-sdk/commit/a94f88c0f40cc0f7af002d7c619611ec8ac7cfcb))
+* Add optional float-roundtrip feature ([#184](https://github.com/launchdarkly/rust-server-sdk/issues/184)) ([465b231](https://github.com/launchdarkly/rust-server-sdk/commit/465b2313faf89b72d851fd54a5a8dccf00ca61b5))
+
 ## [3.1.2](https://github.com/launchdarkly/rust-server-sdk/compare/3.1.1...3.1.2) (2026-07-21)
 
 
diff --git a/launchdarkly-server-sdk/Cargo.toml b/launchdarkly-server-sdk/Cargo.toml
index 42a3715..9e7e3d2 100644
--- a/launchdarkly-server-sdk/Cargo.toml
+++ b/launchdarkly-server-sdk/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "launchdarkly-server-sdk"
 description = "LaunchDarkly Server-Side SDK"
-version = "3.1.2"
+version = "3.2.0"
 authors = ["LaunchDarkly"]
 edition = "2021"
 rust-version = "1.95.0"  # MSRV