change log for 25.12rc1

diff --git a/.version b/.version
index 8aa5d8fc..9666266b 100644
--- a/.version
+++ b/.version
@@ -1 +1 @@
-25.09.3
+25.12rc1
diff --git a/CHANGELOG.md b/CHANGELOG.md
index df60b381..bc35cb14 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,134 @@ All notable changes to this project will be documented in this file.
 
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/).
 
+## v25.12rc1 - 2025-11-20: "Boltz's Seamless Upgrade Experience"
+
+Release Candidate for Core Lightning v25.12
+
+This release named by @sangbida
+
+### Added
+
+ - JSON-RPC: `listnetworkevents` to view the last 30 days of ping and connection times. ([#8558])
+ - JSON-RPC: `fundchannel_complete` new parameter `withhold` for zero-conf channels (default false). ([#8546])
+ - Plugins: `xpay` will now wait if it suspects a payment failure is due to a height disagreement with the final node. ([#8645])
+ - Tools: `lightning-hsmtool` now supports hsm_secret files using a 12-word mnemonic. ([#8400])
+ - JSON-RPC: `askrene-bias-node`: an RPC command to set a bias on node's outgoing or incoming channels. ([#8608])
+ - JSON-RPC: `listpeerchannels` `funding` object `withheld` flag, and `listclosedchannels` `funding_withheld` flags, indicating fundchannel_complete was called with the `withheld` parameter true. ([#8546])
+ - JSON-RPC: `psbt` field in `funding` in listpeerchannels, and `funding_psbt` in listclosedchannels. ([#8546])
+ - Plugins: `autoclean` will remove networkevents after 30 days by default. ([#8558])
+ - JSON-RPC: `delnetworkevent` to delete from listnetworkevents. ([#8558])
+ - JSON-RPC: `sql` now supports the `networkevents` table. ([#8558])
+ - JSON-RPC: `wait` now has `networkevents` subsystem. ([#8558])
+ - JSON-RPC: `newaddr` will now return a `p2tr` field by default. ([#8656])
+ - Plugins: `channel_state_changed` notification upon final change to `CLOSED` state. ([#8464])
+ - Plugins: `askrene-reserve` and `askrene-unreserve` can take an optional `layer` inside `path` elements. ([#8685])
+ - Plugins: askrene channel biases now have an associated timestamp, and are timed out by askrene-age. ([#8608])
+ - Plugins: `rpc_command` and `custommsg` hooks can now specify a "filter" to indicate what types they are interested in. ([#8677])
+ - Config: `hsm-passphrase` indicates we should use a manual passphrase with the hsm secret. ([#8400])
+
+### Changed
+
+ - hsmd: New nodes will now be created with a BIP-39 12-word phrase as their root secret. ([#8400])
+ - Postgres: significant speedup on read-only operations (e.g. 30% on empty SELECTs) ([#8677])
+ - Plugins: `htlc_accepted` hook now knows the `peer_id` of the peer that offered us the HTLC. ([#8680])
+ - Plugins: `htlc_accepted` hook can now override the expected total amount of the invoice that belongs to the HTLC. ([#8671])
+ - Build: libsodium version >= 1.0.4 now required (released 2015-06-11) ([#8536])
+ - Build: lowdown is now required (we no longer bundle our own). ([#8536])
+ - pyln-testing requires python>=3.9.2 ([#8592])
+
+### Deprecated
+
+Note: You should always set `allow-deprecated-apis=false` to test for changes.
+
+ - Plugins: `channel_state_changed` notification `message` field being `null`: it will be omitted instead. ([#8464])
+ - JSON-RPC: `newaddr` returning a `bech32` field if `addresstype` is not specified (use `p2tr`). ([#8656])
+ - Config: `encrypted-hsm` to require a passphrase (use `hsm-passphrase`). ([#8400])
+
+### Removed
+
+ - Tools: `lightning-hsmtool` support for mnemonics in non-english languages removed. ([#8400])
+ - Config: --experimental-offers and --experimental-quiesce (default since v24.11) ([#8523])
+ - Plugins: `onion\_message\_recv` hook `blinding` field (use `first\_path\_key` as per modern BOLT 4 naming). ([#8523])
+ - JSON-RPC: `decode` field `blinding` (use `first_path_key` as per modern BOLT naming) ([#8523])
+ - Config: non-functioning litecoin support (who knew we even had that?) ([#8536])
+
+### Fixed
+
+ - lightningd: multiple significant speedups for large nodes, especially preventing "freezes" under exceptionally high load. ([#8677])
+ - `xpay` will not try to send too many HTLCs through unknown channels (6, as that is Phoenix's limit) unless it has no choice ([#8537])
+ - `xpay` fixed clash with simultaneous payments via routehints and blinded paths. ([#8685])
+ - JSON-RPC: `signpsbt` no longer crashes if asked to sign an already-signed PSBT with taproot paths. ([#8546])
+ - Offers: require peers for blinded paths to have `option_onion_messages`, due to reports of LND not forwarding our blinded payments correctly. ([#8682])
+ - Protocol: we now re-transmit unseen funding transactions on startup, for more robustness. ([#8546])
+ - Plugins: `askrene` now handles limits on number of htlcs much more gracefully. ([#8688])
+ - Plugins: `bkpr_listincome` now honors `start\_time` and `end\_time` parameters for onchain fees. ([#8624])
+ - JSON-RPC: `autoclean-once` returns "uncleaned" number reflecting number of candidates which were too new to be cleaned, not all records we didn't delete. ([#8651])
+ - JSON-RPC: `invoice` no longer accepts 640-byte descriptions (it would produce malformed invoices). ([#8535])
+ - Protocol: `keysend` with descriptions of length 640-1023 bytes fixed. ([#8535])
+ - JSON-RPC: `listtransactions` now correctly updates `blockheight` for txs created by `sendpsbt` which have no change outputs. ([#8555])
+ - pytest: Tests that require Rust no longer fail if Rust is disabled. ([#8491])
+ - Protocol: fix occasional lost sending of final packet (usually warnings or errors). ([#8570])
+ - JSON-RPC: `keysend` command no longer corrupts the type numbers of extra TLVs when they are specified as numeric strings longer than 2 digits. ([#8413])
+ - Fix out-of-bounds error when handling 255-byte DNS names. ([#8325])
+ - pyln-client no longer leaks a file descriptor when connecting to an RPC socket with a long path name. ([#8488])
+ - Protocol: Fixed hash calculation inconsistency when processing invoices with unknown fallback address versions. ([#8302])
+ - Integration tests no longer fail when run in a deeply nested directory on Linux. ([#8492])
+ - Build: we can now build without sqlite3 support. ([#8561])
+ - Build: Fedora releases are also deterministic now. ([#8692])
+ - Docker: Core lightning version in Docker image will not be missing. ([#8659])
+
+### EXPERIMENTAL
+
+ - Splicing BREAKING change - spec changes mean peers must upgrade in unison! (`commitment_signed`s splice_info tlv's and `channel_reestablish` changed) ([#8646], [#8506])
+ - Protocol: stricter conformance to Bolt spec for splice commitments. ([#8463])
+ - Config: `experimental-lsps-client` and `experimental-lsps2-service` support for LSPS level 2 specification ([#8569])
+ - Protocol: specification for recurring offers changed: old recurring offers will no longer work. ([#8398])
+ - Protocol: BOLT 12 recurrence `start\_any\_period` removed, use expiry if you need to restrict when they can start using the offer. ([#8398])
+ - Protocol: BOLT 12 recurrence `years` removed; use 12 x months. ([#8398])
+ - Splicing: Fixed crash when we splice a channel which hasn't been announced yet. ([#8555])
+ - JSON-RPC: `cancelrecurringinvoice` command to send new "don't expect any more invoice requests" msg to recurring bolt12 invoices. ([#8398])
+
+[#8506]: https://github.com/ElementsProject/lightning/pull/8506
+[#8646]: https://github.com/ElementsProject/lightning/pull/8646
+[#8546]: https://github.com/ElementsProject/lightning/pull/8546
+[#8692]: https://github.com/ElementsProject/lightning/pull/8692
+[#8492]: https://github.com/ElementsProject/lightning/pull/8492
+[#8608]: https://github.com/ElementsProject/lightning/pull/8608
+[#8671]: https://github.com/ElementsProject/lightning/pull/8671
+[#8523]: https://github.com/ElementsProject/lightning/pull/8523
+[#8464]: https://github.com/ElementsProject/lightning/pull/8464
+[#8325]: https://github.com/ElementsProject/lightning/pull/8325
+[#8624]: https://github.com/ElementsProject/lightning/pull/8624
+[#8682]: https://github.com/ElementsProject/lightning/pull/8682
+[#8535]: https://github.com/ElementsProject/lightning/pull/8535
+[#8659]: https://github.com/ElementsProject/lightning/pull/8659
+[#8688]: https://github.com/ElementsProject/lightning/pull/8688
+[#8685]: https://github.com/ElementsProject/lightning/pull/8685
+[#8592]: https://github.com/ElementsProject/lightning/pull/8592
+[#8400]: https://github.com/ElementsProject/lightning/pull/8400
+[#8570]: https://github.com/ElementsProject/lightning/pull/8570
+[#8537]: https://github.com/ElementsProject/lightning/pull/8537
+[#8413]: https://github.com/ElementsProject/lightning/pull/8413
+[#8680]: https://github.com/ElementsProject/lightning/pull/8680
+[#8654]: https://github.com/ElementsProject/lightning/pull/8654
+[#8677]: https://github.com/ElementsProject/lightning/pull/8677
+[#8536]: https://github.com/ElementsProject/lightning/pull/8536
+[#8645]: https://github.com/ElementsProject/lightning/pull/8645
+[#8558]: https://github.com/ElementsProject/lightning/pull/8558
+[#8656]: https://github.com/ElementsProject/lightning/pull/8656
+[#8555]: https://github.com/ElementsProject/lightning/pull/8555
+[#8463]: https://github.com/ElementsProject/lightning/pull/8463
+[#8398]: https://github.com/ElementsProject/lightning/pull/8398
+[#8488]: https://github.com/ElementsProject/lightning/pull/8488
+[#8569]: https://github.com/ElementsProject/lightning/pull/8569
+[#8491]: https://github.com/ElementsProject/lightning/pull/8491
+[#8651]: https://github.com/ElementsProject/lightning/pull/8651
+[#8561]: https://github.com/ElementsProject/lightning/pull/8561
+[#8302]: https://github.com/ElementsProject/lightning/pull/8302
+[v25.12rc1]: https://github.com/ElementsProject/lightning/releases/tag/v25.12rc1
+
+
 ## [25.09.3] - 2025-11-06: "Hot Wallet Guardian IV"
 
 ### Fixed
diff --git a/contrib/pyln-client/pyln/client/__init__.py b/contrib/pyln-client/pyln/client/__init__.py
index f20c47ec..5a328e6c 100644
--- a/contrib/pyln-client/pyln/client/__init__.py
+++ b/contrib/pyln-client/pyln/client/__init__.py
@@ -4,7 +4,7 @@ from .gossmap import Gossmap, GossmapNode, GossmapChannel, GossmapHalfchannel, G
 from .gossmapstats import GossmapStats
 from .version import NodeVersion
 
-__version__ = "25.09.3"
+__version__ = "25.12rc1"
 
 __all__ = [
     "LightningRpc",
diff --git a/contrib/pyln-client/pyproject.toml b/contrib/pyln-client/pyproject.toml
index ff56d75a..62825549 100644
--- a/contrib/pyln-client/pyproject.toml
+++ b/contrib/pyln-client/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "pyln-client"
-version = "25.09.3"
+version = "25.12rc1"
 description = "Client library and plugin library for Core Lightning"
 authors = [{ name = "Christian Decker", email = "decker.christian@gmail.com" }]
 license = { text = "BSD-MIT" }
diff --git a/contrib/pyln-proto/pyln/proto/__init__.py b/contrib/pyln-proto/pyln/proto/__init__.py
index 0a07a9f9..6e0b0f9c 100644
--- a/contrib/pyln-proto/pyln/proto/__init__.py
+++ b/contrib/pyln-proto/pyln/proto/__init__.py
@@ -4,7 +4,7 @@ from .invoice import Invoice
 from .onion import OnionPayload, TlvPayload, LegacyOnionPayload
 from .wire import LightningConnection, LightningServerSocket
 
-__version__ = "25.09.3"
+__version__ = "25.12rc1"
 
 __all__ = [
     "Invoice",
diff --git a/contrib/pyln-proto/pyproject.toml b/contrib/pyln-proto/pyproject.toml
index 0dcab87b..5156e4c8 100644
--- a/contrib/pyln-proto/pyproject.toml
+++ b/contrib/pyln-proto/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "pyln-proto"
-version = "25.09.3"
+version = "25.12rc1"
 description = "This package implements some of the Lightning Network protocol in pure python. It is intended for protocol testing and some minor tooling only. It is not deemed secure enough to handle any amount of real funds (you have been warned!)."
 authors = [
     {name = "Christian Decker", email = "decker.christian@gmail.com"}
diff --git a/contrib/pyln-testing/pyln/testing/__init__.py b/contrib/pyln-testing/pyln/testing/__init__.py
index 942260bb..948b3608 100644
--- a/contrib/pyln-testing/pyln/testing/__init__.py
+++ b/contrib/pyln-testing/pyln/testing/__init__.py
@@ -1,4 +1,4 @@
-__version__ = "25.09.3"
+__version__ = "25.12rc1"
 
 __all__ = [
     "__version__",
diff --git a/contrib/pyln-testing/pyproject.toml b/contrib/pyln-testing/pyproject.toml
index 8220bdc9..48d85740 100644
--- a/contrib/pyln-testing/pyproject.toml
+++ b/contrib/pyln-testing/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "pyln-testing"
-version = "25.09.3"
+version = "25.12rc1"
 description = "Test your Core Lightning integration, plugins or whatever you want"
 authors = [{ name = "Christian Decker", email = "decker.christian@gmail.com" }]
 license = { text = "BSD-MIT" }
diff --git a/tools/reckless b/tools/reckless
index 455ff65f..761a2bbe 100755
--- a/tools/reckless
+++ b/tools/reckless
@@ -21,7 +21,7 @@ from urllib.error import HTTPError
 import venv
 
 
-__VERSION__ = '25.09.3'
+__VERSION__ = '25.12rc1'
 
 logging.basicConfig(
     level=logging.INFO,
diff --git a/uv.lock b/uv.lock
index e00e2b9e..cb8758e6 100644
--- a/uv.lock
+++ b/uv.lock
@@ -1355,7 +1355,7 @@ dev = [{ name = "pyln-proto", editable = "contrib/pyln-proto" }]
 
 [[package]]
 name = "pyln-client"
-version = "25.9.3"
+version = "25.12rc1"
 source = { editable = "contrib/pyln-client" }
 dependencies = [
     { name = "pyln-bolt7" },
@@ -1413,7 +1413,7 @@ dev = [
 
 [[package]]
 name = "pyln-proto"
-version = "25.9.3"
+version = "25.12rc1"
 source = { editable = "contrib/pyln-proto" }
 dependencies = [
     { name = "base58" },
@@ -1442,7 +1442,7 @@ dev = [{ name = "pytest", specifier = ">=8.0.0" }]
 
 [[package]]
 name = "pyln-testing"
-version = "25.9.3"
+version = "25.12rc1"
 source = { editable = "contrib/pyln-testing" }
 dependencies = [
     { name = "cheroot" },