diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index fb2db8d321e7..6420fd5310df 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -363,14 +363,14 @@ project's tracker to fix their documentation.
 ### Stub versioning
 
 You can use checks
-like `if sys.version_info >= (3, 8):` to denote new functionality introduced
+like `if sys.version_info >= (3, 12):` to denote new functionality introduced
 in a given Python version or solve type differences.  When doing so, only use
 two-tuples. Because of this, if a given functionality was
-introduced in, say, Python 3.7.4, your check:
+introduced in, say, Python 3.11.4, your check:
 
-* should be expressed as `if sys.version_info >= (3, 7):`
-* should NOT be expressed as `if sys.version_info >= (3, 7, 4):`
-* should NOT be expressed as `if sys.version_info >= (3, 8):`
+* should be expressed as `if sys.version_info >= (3, 11):`
+* should NOT be expressed as `if sys.version_info >= (3, 11, 4):`
+* should NOT be expressed as `if sys.version_info >= (3, 12):`
 
 When your stub contains if statements for different Python versions,
 always put the code for the most recent Python version first.
diff --git a/README.md b/README.md
index d5d806dd1ae0..eaf951564426 100644
--- a/README.md
+++ b/README.md
@@ -20,7 +20,8 @@ the project the stubs are for, but instead report them here to typeshed.**
 Further documentation on stub files, typeshed, and Python's typing system in
 general, can also be found at https://typing.readthedocs.io/en/latest/.
 
-Typeshed supports Python versions 3.7 and up.
+Typeshed fully supports Python versions 3.8 and up. Support for Python 3.7
+is only maintained in a limited manner.
 
 ## Using