diff --git a/Cargo.lock b/Cargo.lock
index eaada88b6..98c7bb33b 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -6767,7 +6767,7 @@ dependencies = [
 
 [[package]]
 name = "rewards"
-version = "1.1.0"
+version = "1.2.0"
 dependencies = [
  "assert_ok",
  "axelar-wasm-std",
diff --git a/Cargo.toml b/Cargo.toml
index 6bd8408fe..ba9321f35 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -52,7 +52,7 @@ num-traits = { version = "0.2.14", default-features = false }
 quote = "1.0.36"
 rand = "0.8.5"
 report = { version = "^1.0.0", path = "packages/report" }
-rewards = { version = "^1.1.0", path = "contracts/rewards" }
+rewards = { version = "^1.2.0", path = "contracts/rewards" }
 router = { version = "^1.1.0", path = "contracts/router" }
 router-api = { version = "^1.0.0", path = "packages/router-api" }
 schemars = "0.8.10"
diff --git a/contracts/rewards/Cargo.toml b/contracts/rewards/Cargo.toml
index 1ef4e5591..85ad7b215 100644
--- a/contracts/rewards/Cargo.toml
+++ b/contracts/rewards/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "rewards"
-version = "1.1.0"
+version = "1.2.0"
 rust-version = { workspace = true }
 edition = { workspace = true }
 description = "Validator rewards contract"