diff --git a/Makefile b/Makefile
index 5189fe4afe..076a050904 100644
--- a/Makefile
+++ b/Makefile
@@ -292,14 +292,14 @@ docker-watcher_info-prod:
 
 docker-watcher-build:
 	docker build -f Dockerfile.watcher \
-		--build-arg release_version=$$(cat $(PWD)/VERSION)+$$(git rev-parse --short=7 HEAD) \
+		--build-arg release_version=$$(git describe --tags) \
 		--cache-from $(WATCHER_IMAGE_NAME) \
 		-t $(WATCHER_IMAGE_NAME) \
 		.
 
 docker-watcher_info-build:
 	docker build -f Dockerfile.watcher_info \
-		--build-arg release_version=$$(cat $(PWD)/VERSION)+$$(git rev-parse --short=7 HEAD) \
+		--build-arg release_version=$$(git describe --tags) \
 		--cache-from $(WATCHER_INFO_IMAGE_NAME) \
 		-t $(WATCHER_INFO_IMAGE_NAME) \
 		.
diff --git a/VERSION b/VERSION
deleted file mode 100644
index 90a27f9cea..0000000000
--- a/VERSION
+++ /dev/null
@@ -1 +0,0 @@
-1.0.5
diff --git a/apps/omg/mix.exs b/apps/omg/mix.exs
index 783c4ea117..e774cb63ac 100644
--- a/apps/omg/mix.exs
+++ b/apps/omg/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.MixProject do
   def project() do
     [
       app: :omg,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -24,6 +24,14 @@ defmodule OMG.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   # :dev compiles `test/support` to gain access to various `Support.*` helpers
   defp elixirc_paths(:prod), do: ["lib"]
diff --git a/apps/omg_bus/mix.exs b/apps/omg_bus/mix.exs
index 43bd9736a4..f191036a9f 100644
--- a/apps/omg_bus/mix.exs
+++ b/apps/omg_bus/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.Bus.MixProject do
   def project() do
     [
       app: :omg_bus,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -25,6 +25,14 @@ defmodule OMG.Bus.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
diff --git a/apps/omg_conformance/mix.exs b/apps/omg_conformance/mix.exs
index ab8a04bf87..60cf536b0b 100644
--- a/apps/omg_conformance/mix.exs
+++ b/apps/omg_conformance/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.Conformance.MixProject do
   def project() do
     [
       app: :omg_conformance,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -23,6 +23,14 @@ defmodule OMG.Conformance.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
   defp elixirc_paths(:test), do: ["lib", "test/support"]
diff --git a/apps/omg_db/mix.exs b/apps/omg_db/mix.exs
index b48a216ce0..660ae7b4ac 100644
--- a/apps/omg_db/mix.exs
+++ b/apps/omg_db/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.DB.MixProject do
   def project() do
     [
       app: :omg_db,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -25,6 +25,14 @@ defmodule OMG.DB.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
diff --git a/apps/omg_eth/mix.exs b/apps/omg_eth/mix.exs
index dbee8a9b4f..3f6a03c998 100644
--- a/apps/omg_eth/mix.exs
+++ b/apps/omg_eth/mix.exs
@@ -6,7 +6,7 @@ defmodule OMG.Eth.MixProject do
   def project() do
     [
       app: :omg_eth,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -27,6 +27,14 @@ defmodule OMG.Eth.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   # :dev compiles `test/support` to gain access to various `Support.*` helpers
   defp elixirc_paths(:prod), do: ["lib"]
diff --git a/apps/omg_status/mix.exs b/apps/omg_status/mix.exs
index 442319692f..21bbc6a767 100644
--- a/apps/omg_status/mix.exs
+++ b/apps/omg_status/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.Status.Mixfile do
   def project() do
     [
       app: :omg_status,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -31,6 +31,14 @@ defmodule OMG.Status.Mixfile do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   defp deps(),
     do: [
       {:telemetry, "~> 0.4.1"},
diff --git a/apps/omg_utils/mix.exs b/apps/omg_utils/mix.exs
index bd3a252a20..b2bb8f40ad 100644
--- a/apps/omg_utils/mix.exs
+++ b/apps/omg_utils/mix.exs
@@ -4,7 +4,7 @@ defmodule Utils.MixProject do
   def project() do
     [
       app: :omg_utils,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -21,6 +21,14 @@ defmodule Utils.MixProject do
     [extra_applications: [:plug]]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
diff --git a/apps/omg_watcher/mix.exs b/apps/omg_watcher/mix.exs
index e9236360ae..78397dce25 100644
--- a/apps/omg_watcher/mix.exs
+++ b/apps/omg_watcher/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.Watcher.MixProject do
   def project() do
     [
       app: :omg_watcher,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -26,6 +26,14 @@ defmodule OMG.Watcher.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
diff --git a/apps/omg_watcher_info/mix.exs b/apps/omg_watcher_info/mix.exs
index e9bc3e7828..16c69f8560 100644
--- a/apps/omg_watcher_info/mix.exs
+++ b/apps/omg_watcher_info/mix.exs
@@ -4,7 +4,7 @@ defmodule OMG.WatcherInfo.MixProject do
   def project() do
     [
       app: :omg_watcher_info,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -26,6 +26,14 @@ defmodule OMG.WatcherInfo.MixProject do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
diff --git a/apps/omg_watcher_rpc/mix.exs b/apps/omg_watcher_rpc/mix.exs
index bfa3693155..e4080f0ce3 100644
--- a/apps/omg_watcher_rpc/mix.exs
+++ b/apps/omg_watcher_rpc/mix.exs
@@ -2,9 +2,16 @@ defmodule OMG.WatcherRPC.Mixfile do
   use Mix.Project
 
   def project() do
+    version =
+      "git"
+      |> System.cmd(["describe", "--tags", "--abbrev=0"])
+      |> elem(0)
+      |> String.replace("v", "")
+      |> String.replace("\n", "")
+
     [
       app: :omg_watcher_rpc,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       config_path: "../../config/config.exs",
       deps_path: "../../deps",
@@ -25,6 +32,14 @@ defmodule OMG.WatcherRPC.Mixfile do
     ]
   end
 
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
+
   # Specifies which paths to compile per environment.
   defp elixirc_paths(:prod), do: ["lib"]
   defp elixirc_paths(:dev), do: ["lib"]
diff --git a/apps/xomg_tasks/mix.exs b/apps/xomg_tasks/mix.exs
index 874d5f0d87..e87a7c237e 100644
--- a/apps/xomg_tasks/mix.exs
+++ b/apps/xomg_tasks/mix.exs
@@ -9,7 +9,7 @@ defmodule OMG.XomgTasks.MixProject do
   def project() do
     [
       app: :xomg_tasks,
-      version: "#{String.trim(File.read!("../../VERSION"))}",
+      version: version(),
       build_path: "../../_build",
       deps_path: "../../deps",
       lockfile: "../../mix.lock",
@@ -23,4 +23,12 @@ defmodule OMG.XomgTasks.MixProject do
   def application() do
     [extra_applications: [:iex, :logger]]
   end
+
+  defp version() do
+    "git"
+    |> System.cmd(["describe", "--tags", "--abbrev=0"])
+    |> elem(0)
+    |> String.replace("v", "")
+    |> String.replace("\n", "")
+  end
 end
diff --git a/mix.exs b/mix.exs
index 2a216b1703..fed576b03e 100644
--- a/mix.exs
+++ b/mix.exs
@@ -166,8 +166,10 @@ defmodule OMG.Umbrella.MixProject do
   defp docker(), do: if(System.get_env("DOCKER"), do: "_docker", else: "")
 
   defp current_version() do
-    sha = String.replace(elem(System.cmd("git", ["rev-parse", "--short=7", "HEAD"]), 0), "\n", "")
-    "#{String.trim(File.read!("VERSION"))}" <> "+" <> sha
+    "git"
+    |> System.cmd(["describe", "--tags"])
+    |> elem(0)
+    |> String.replace("\n", "")
   end
 
   defp steps() do