diff --git a/concordium-base b/concordium-base
index 794d30be7e..bca2939b04 160000
--- a/concordium-base
+++ b/concordium-base
@@ -1 +1 @@
-Subproject commit 794d30be7e5848b9c9737f8dca0efd2ea45ae2a7
+Subproject commit bca2939b043eed76da534476f1c69eeee78b8a3d
diff --git a/concordium-consensus/src/Concordium/GlobalState/BakerInfo.hs b/concordium-consensus/src/Concordium/GlobalState/BakerInfo.hs
index a35f3c7b94..4275061fbe 100644
--- a/concordium-consensus/src/Concordium/GlobalState/BakerInfo.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/BakerInfo.hs
@@ -317,6 +317,7 @@ genesisBakerInfoEx spv cp GenesisBaker{..} = case spv of
     SP4 -> binfoV1
     SP5 -> binfoV1
     SP6 -> binfoV1
+    SP7 -> binfoV1
   where
     bkrInfo =
         BakerInfo
diff --git a/concordium-consensus/src/Concordium/GlobalState/Block.hs b/concordium-consensus/src/Concordium/GlobalState/Block.hs
index 21a3507eb2..af5a120a8a 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Block.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Block.hs
@@ -135,6 +135,7 @@ blockVersion SP3 = 2
 blockVersion SP4 = 2
 blockVersion SP5 = 2
 blockVersion SP6 = 3
+blockVersion SP7 = 3
 {-# INLINE blockVersion #-}
 
 -- | Type class that supports serialization of a block.
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/Account.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/Account.hs
index d7f3d72423..56bc59a91f 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/Account.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/Account.hs
@@ -535,6 +535,7 @@ migratePersistentAccount m@StateMigrationParametersP2P3 (PAV0 acc) = PAV0 <$> V0
 migratePersistentAccount m@StateMigrationParametersP3ToP4{} (PAV0 acc) = PAV1 <$> V0.migratePersistentAccount m acc
 migratePersistentAccount m@StateMigrationParametersP4ToP5{} (PAV1 acc) = PAV2 <$> V1.migratePersistentAccountFromV0 m acc
 migratePersistentAccount m@StateMigrationParametersP5ToP6{} (PAV2 acc) = PAV2 <$> V1.migratePersistentAccount m acc
+migratePersistentAccount m@StateMigrationParametersP6ToP7{} (PAV2 acc) = PAV2 <$> V1.migratePersistentAccount m acc
 
 -- | Migrate a 'PersistentBakerInfoRef' between protocol versions according to a state migration.
 migratePersistentBakerInfoRef ::
@@ -551,6 +552,7 @@ migratePersistentBakerInfoRef m@StateMigrationParametersP2P3 (PBIRV0 bir) = PBIR
 migratePersistentBakerInfoRef m@StateMigrationParametersP3ToP4{} (PBIRV0 bir) = PBIRV1 <$> V0.migratePersistentBakerInfoEx m bir
 migratePersistentBakerInfoRef m@StateMigrationParametersP4ToP5{} (PBIRV1 bir) = PBIRV2 <$> V1.migratePersistentBakerInfoExFromV0 m bir
 migratePersistentBakerInfoRef m@StateMigrationParametersP5ToP6{} (PBIRV2 bir) = PBIRV2 <$> V1.migratePersistentBakerInfoEx m bir
+migratePersistentBakerInfoRef m@StateMigrationParametersP6ToP7{} (PBIRV2 bir) = PBIRV2 <$> V1.migratePersistentBakerInfoEx m bir
 
 -- * Conversion
 
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/Account/StructureV1.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/Account/StructureV1.hs
index b495513c6b..8e88850ba2 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/Account/StructureV1.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/Account/StructureV1.hs
@@ -106,6 +106,7 @@ migratePersistentBakerInfoEx ::
     t m (PersistentBakerInfoEx (AccountVersionFor pv))
 migratePersistentBakerInfoEx StateMigrationParametersTrivial = migrateReference return
 migratePersistentBakerInfoEx StateMigrationParametersP5ToP6{} = migrateReference return
+migratePersistentBakerInfoEx StateMigrationParametersP6ToP7{} = migrateReference return
 
 -- | Migrate a 'V0.PersistentBakerInfoEx' to a 'PersistentBakerInfoEx'.
 --  See documentation of @migratePersistentBlockState@.
@@ -1354,6 +1355,7 @@ migratePersistentAccount ::
     t m (PersistentAccount (AccountVersionFor pv))
 migratePersistentAccount StateMigrationParametersTrivial acc = migrateV2ToV2 acc
 migratePersistentAccount StateMigrationParametersP5ToP6{} acc = migrateV2ToV2 acc
+migratePersistentAccount StateMigrationParametersP6ToP7{} acc = migrateV2ToV2 acc
 
 -- | Migration for 'PersistentAccount' from 'V0.PersistentAccount'. This supports migration from
 --  'P4' to 'P5'.
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/Bakers.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/Bakers.hs
index 3bcfc848c5..33ce08806c 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/Bakers.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/Bakers.hs
@@ -147,6 +147,7 @@ migratePersistentEpochBakers migration PersistentEpochBakers{..} = do
             StateMigrationParametersP3ToP4{} -> NoParam
             StateMigrationParametersP4ToP5 -> NoParam
             (StateMigrationParametersP5ToP6 P6.StateMigrationData{..}) -> SomeParam $ P6.updateFinalizationCommitteeParameters migrationProtocolUpdateData
+            StateMigrationParametersP6ToP7{} -> _bakerFinalizationCommitteeParameters
     return
         PersistentEpochBakers
             { _bakerInfos = newBakerInfos,
@@ -298,6 +299,10 @@ migratePersistentActiveDelegators StateMigrationParametersP5ToP6{} = \case
     PersistentActiveDelegatorsV1{..} -> do
         newDelegators <- Trie.migrateTrieN True return adDelegators
         return PersistentActiveDelegatorsV1{adDelegators = newDelegators, ..}
+migratePersistentActiveDelegators StateMigrationParametersP6ToP7{} = \case
+    PersistentActiveDelegatorsV1{..} -> do
+        newDelegators <- Trie.migrateTrieN True return adDelegators
+        return PersistentActiveDelegatorsV1{adDelegators = newDelegators, ..}
 
 emptyPersistentActiveDelegators :: forall av. (IsAccountVersion av) => PersistentActiveDelegators av
 emptyPersistentActiveDelegators =
@@ -346,6 +351,7 @@ migrateTotalActiveCapital StateMigrationParametersP2P3 _ x = x
 migrateTotalActiveCapital (StateMigrationParametersP3ToP4 _) bts TotalActiveCapitalV0 = TotalActiveCapitalV1 bts
 migrateTotalActiveCapital StateMigrationParametersP4ToP5 _ (TotalActiveCapitalV1 bts) = TotalActiveCapitalV1 bts
 migrateTotalActiveCapital StateMigrationParametersP5ToP6{} _ (TotalActiveCapitalV1 bts) = TotalActiveCapitalV1 bts
+migrateTotalActiveCapital StateMigrationParametersP6ToP7{} _ (TotalActiveCapitalV1 bts) = TotalActiveCapitalV1 bts
 
 instance (IsAccountVersion av) => Serialize (TotalActiveCapital av) where
     put TotalActiveCapitalV0 = return ()
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState.hs
index 5905b4b68f..6cf4b919b3 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState.hs
@@ -149,26 +149,7 @@ migrateSeedState ::
     SeedState (SeedStateVersionFor pv)
 migrateSeedState StateMigrationParametersTrivial{} ss = case ss of
     SeedStateV0{} -> ss -- In consensus v0, seed state update is handled prior to migration
-    SeedStateV1{..} ->
-        SeedStateV1
-            { -- Reset the epoch to 0.
-              ss1Epoch = 0,
-              ss1CurrentLeadershipElectionNonce = newNonce,
-              ss1UpdatedNonce = newNonce,
-              -- We maintain the trigger block time. This forces an epoch transition as soon as possible
-              -- which will effectively substitute for the epoch transition that would have happened
-              -- on the previous consensus, had it not shut down.
-              ss1TriggerBlockTime = ss1TriggerBlockTime,
-              -- We flag the epoch transition as triggered so that the epoch transition will happen
-              -- as soon as possible.
-              ss1EpochTransitionTriggered = True,
-              -- We clear the shutdown flag.
-              ss1ShutdownTriggered = False
-            }
-      where
-        -- We derive the new nonce from the updated nonce on the basis that it was fixed
-        -- at the trigger block from the previous consensus.
-        newNonce = H.hash $ "Regenesis" <> encode ss1UpdatedNonce
+    SeedStateV1{} -> migrateSeedStateV1Trivial ss
 migrateSeedState StateMigrationParametersP1P2{} ss = ss
 migrateSeedState StateMigrationParametersP2P3{} ss = ss
 migrateSeedState StateMigrationParametersP3ToP4{} ss = ss
@@ -176,6 +157,30 @@ migrateSeedState StateMigrationParametersP4ToP5{} ss = ss
 migrateSeedState (StateMigrationParametersP5ToP6 (P6.StateMigrationData _ time)) SeedStateV0{..} =
     let seed = H.hash $ "Regenesis" <> encode ss0CurrentLeadershipElectionNonce
     in  initialSeedStateV1 seed time
+migrateSeedState StateMigrationParametersP6ToP7{} ss = migrateSeedStateV1Trivial ss
+
+-- | Trivial migration of a 'SeedStateV1' between protocol versions.
+migrateSeedStateV1Trivial :: SeedState 'SeedStateVersion1 -> SeedState 'SeedStateVersion1
+migrateSeedStateV1Trivial SeedStateV1{..} =
+    SeedStateV1
+        { -- Reset the epoch to 0.
+          ss1Epoch = 0,
+          ss1CurrentLeadershipElectionNonce = newNonce,
+          ss1UpdatedNonce = newNonce,
+          -- We maintain the trigger block time. This forces an epoch transition as soon as possible
+          -- which will effectively substitute for the epoch transition that would have happened
+          -- on the previous consensus, had it not shut down.
+          ss1TriggerBlockTime = ss1TriggerBlockTime,
+          -- We flag the epoch transition as triggered so that the epoch transition will happen
+          -- as soon as possible.
+          ss1EpochTransitionTriggered = True,
+          -- We clear the shutdown flag.
+          ss1ShutdownTriggered = False
+        }
+  where
+    -- We derive the new nonce from the updated nonce on the basis that it was fixed
+    -- at the trigger block from the previous consensus.
+    newNonce = H.hash $ "Regenesis" <> encode ss1UpdatedNonce
 
 -- | See documentation of @migratePersistentBlockState@.
 --
@@ -605,6 +610,10 @@ migrateBlockRewardDetails StateMigrationParametersP5ToP6{} _ _ (SomeParam TimePa
     (BlockRewardDetailsV1 hbr) ->
         BlockRewardDetailsV1
             <$> migrateHashedBufferedRef (migratePoolRewards (rewardPeriodEpochs _tpRewardPeriodLength)) hbr
+migrateBlockRewardDetails StateMigrationParametersP6ToP7{} _ _ (SomeParam TimeParametersV1{..}) _ = \case
+    (BlockRewardDetailsV1 hbr) ->
+        BlockRewardDetailsV1
+            <$> migrateHashedBufferedRef (migratePoolRewards (rewardPeriodEpochs _tpRewardPeriodLength)) hbr
 
 instance (MonadBlobStore m) => MHashableTo m (Rewards.BlockRewardDetailsHash av) (BlockRewardDetails av) where
     getHashM (BlockRewardDetailsV0 heb) = return $ Rewards.BlockRewardDetailsHashV0 (getHash heb)
@@ -2167,6 +2176,7 @@ doGetRewardStatus pbs = do
         SP4 -> rewardsV1
         SP5 -> rewardsV1
         SP6 -> rewardsV1
+        SP7 -> rewardsV1
 
 doRewardFoundationAccount :: (SupportsPersistentState pv m) => PersistentBlockState pv -> Amount -> m (PersistentBlockState pv)
 doRewardFoundationAccount pbs reward = do
@@ -2292,6 +2302,7 @@ doModifyAccount pbs aUpd@AccountUpdate{..} = do
                     SP4 -> accountCanonicalAddress acc'
                     SP5 -> return _auIndex
                     SP6 -> return _auIndex
+                    SP7 -> return _auIndex
                 !oldRel <- accountNextReleaseTimestamp acc
                 !newRel <- accountNextReleaseTimestamp acc'
                 return (acctRef :: RSAccountRef pv, oldRel, newRel)
@@ -2834,6 +2845,7 @@ doProcessReleaseSchedule pbs ts = do
                     SP4 -> processAccountP1
                     SP5 -> processAccountP5
                     SP6 -> processAccountP5
+                    SP7 -> processAccountP5
             (newAccs, newRS) <- foldM processAccount (bspAccounts bsp, remRS) affectedAccounts
             storePBS pbs (bsp{bspAccounts = newAccs, bspReleaseSchedule = newRS})
 
@@ -3685,6 +3697,7 @@ migrateBlockPointers migration BlockStatePointers{..} = do
                     Nothing -> error "Account with release schedule does not exist"
                     Just ai -> ai
             StateMigrationParametersP5ToP6{} -> RSMNewToNew
+            StateMigrationParametersP6ToP7{} -> RSMNewToNew
     newReleaseSchedule <- migrateReleaseSchedule rsMigration bspReleaseSchedule
     newAccounts <- Accounts.migrateAccounts migration bspAccounts
     newModules <- migrateHashedBufferedRef Modules.migrateModules bspModules
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState/Updates.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState/Updates.hs
index 75131f698c..ddf35b0d52 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState/Updates.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/BlockState/Updates.hs
@@ -303,6 +303,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
             SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
         StateMigrationParametersP5ToP6{} -> case pElectionDifficultyQueue of
             SomeParam _ -> return NoParam
+        StateMigrationParametersP6ToP7{} -> case pElectionDifficultyQueue of
+            NoParam -> return NoParam
     newTimeParameters <- case migration of
         StateMigrationParametersTrivial -> case pTimeParametersQueue of
             NoParam -> return NoParam
@@ -318,6 +320,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
             SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
         StateMigrationParametersP5ToP6{} -> case pTimeParametersQueue of
             SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
+        StateMigrationParametersP6ToP7{} -> case pTimeParametersQueue of
+            SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
     newCooldownParameters <- case migration of
         StateMigrationParametersTrivial -> case pCooldownParametersQueue of
             NoParam -> return NoParam
@@ -334,6 +338,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
             SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
         StateMigrationParametersP5ToP6{} -> case pCooldownParametersQueue of
             SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
+        StateMigrationParametersP6ToP7{} -> case pCooldownParametersQueue of
+            SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
     newTimeoutParameters <- case migration of
         StateMigrationParametersTrivial -> case pTimeoutParametersQueue of
             NoParam -> return NoParam
@@ -349,6 +355,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
         StateMigrationParametersP5ToP6{} -> do
             (!hbr, _) <- refFlush =<< refMake emptyUpdateQueue
             return (SomeParam hbr)
+        StateMigrationParametersP6ToP7{} -> case pTimeoutParametersQueue of
+            SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
     newMinBlockTimeQueue <- case migration of
         StateMigrationParametersTrivial -> case pMinBlockTimeQueue of
             NoParam -> return NoParam
@@ -364,6 +372,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
         StateMigrationParametersP5ToP6{} -> do
             (!hbr, _) <- refFlush =<< refMake emptyUpdateQueue
             return (SomeParam hbr)
+        StateMigrationParametersP6ToP7{} -> case pMinBlockTimeQueue of
+            SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
     newBlockEnergyLimitQueue <- case migration of
         StateMigrationParametersTrivial -> case pBlockEnergyLimitQueue of
             NoParam -> return NoParam
@@ -379,6 +389,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
         StateMigrationParametersP5ToP6{} -> do
             (!hbr, _) <- refFlush =<< refMake emptyUpdateQueue
             return (SomeParam hbr)
+        StateMigrationParametersP6ToP7{} -> case pBlockEnergyLimitQueue of
+            SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
     newFinalizationCommitteeParametersQueue <- case migration of
         StateMigrationParametersTrivial -> case pFinalizationCommitteeParametersQueue of
             NoParam -> return NoParam
@@ -394,6 +406,8 @@ migratePendingUpdates migration PendingUpdates{..} = withCPVConstraints (chainPa
         StateMigrationParametersP5ToP6{} -> do
             (!hbr, _) <- refFlush =<< refMake emptyUpdateQueue
             return (SomeParam hbr)
+        StateMigrationParametersP6ToP7{} -> case pFinalizationCommitteeParametersQueue of
+            SomeParam hbr -> SomeParam <$> migrateHashedBufferedRef (migrateUpdateQueue id) hbr
     return $!
         PendingUpdates
             { pRootKeysUpdateQueue = newRootKeys,
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/Genesis.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/Genesis.hs
index 053fcf5ca6..6e3c3d1861 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/Genesis.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/Genesis.hs
@@ -17,6 +17,7 @@ import qualified Concordium.Genesis.Data.P3 as P3
 import qualified Concordium.Genesis.Data.P4 as P4
 import qualified Concordium.Genesis.Data.P5 as P5
 import qualified Concordium.Genesis.Data.P6 as P6
+import qualified Concordium.Genesis.Data.P7 as P7
 import qualified Concordium.GlobalState.Basic.BlockState.PoolRewards as Basic
 import qualified Concordium.GlobalState.CapitalDistribution as CapDist
 import qualified Concordium.GlobalState.Persistent.Account as Account
@@ -74,6 +75,9 @@ genesisState gd = MTL.runExceptT $ case Types.protocolVersion @pv of
     Types.SP6 -> case gd of
         GenesisData.GDP6 P6.GDP6Initial{..} ->
             buildGenesisBlockState (CGPV1 genesisCore) genesisInitialState
+    Types.SP7 -> case gd of
+        GenesisData.GDP7 P7.GDP7Initial{..} ->
+            buildGenesisBlockState (CGPV1 genesisCore) genesisInitialState
 
 -------- Types -----------
 
diff --git a/concordium-consensus/src/Concordium/GlobalState/Persistent/ReleaseSchedule.hs b/concordium-consensus/src/Concordium/GlobalState/Persistent/ReleaseSchedule.hs
index 65b40b7224..0b47809276 100644
--- a/concordium-consensus/src/Concordium/GlobalState/Persistent/ReleaseSchedule.hs
+++ b/concordium-consensus/src/Concordium/GlobalState/Persistent/ReleaseSchedule.hs
@@ -264,6 +264,7 @@ instance (MonadBlobStore m, IsProtocolVersion pv) => BlobStorable m (ReleaseSche
         SP4 -> fmap ReleaseScheduleP0 <$> load
         SP5 -> fmap ReleaseScheduleP5 <$> load
         SP6 -> fmap ReleaseScheduleP5 <$> load
+        SP7 -> fmap ReleaseScheduleP5 <$> load
 
 instance (MonadBlobStore m) => Cacheable m (ReleaseSchedule pv) where
     cache (ReleaseScheduleP0 rs) = ReleaseScheduleP0 <$> cache rs
@@ -293,6 +294,7 @@ emptyReleaseSchedule = case protocolVersion @pv of
     SP4 -> rsP0
     SP5 -> rsP1
     SP6 -> rsP1
+    SP7 -> rsP1
   where
     rsP0 :: (RSAccountRef pv ~ AccountAddress) => m (ReleaseSchedule pv)
     rsP0 = do
@@ -342,6 +344,7 @@ trivialReleaseScheduleMigration = case protocolVersion @pv of
     SP4 -> RSMLegacyToLegacy
     SP5 -> RSMNewToNew
     SP6 -> RSMNewToNew
+    SP7 -> RSMNewToNew
 
 -- | Migrate a release schedule from one protocol version to another, given by a
 --  'ReleaseScheduleMigration'.
diff --git a/concordium-consensus/src/Concordium/KonsensusV1/TestMonad.hs b/concordium-consensus/src/Concordium/KonsensusV1/TestMonad.hs
index c0cfb1e73b..2d5838f2ca 100644
--- a/concordium-consensus/src/Concordium/KonsensusV1/TestMonad.hs
+++ b/concordium-consensus/src/Concordium/KonsensusV1/TestMonad.hs
@@ -25,10 +25,11 @@ import Concordium.Types
 
 import qualified Concordium.Genesis.Data.BaseV1 as BaseV1
 import qualified Concordium.Genesis.Data.P6 as P6
+import qualified Concordium.Genesis.Data.P7 as P7
 import qualified Concordium.GlobalState.AccountMap.LMDB as LMDBAccountMap
 import Concordium.GlobalState.BlockState
 import Concordium.GlobalState.Parameters (
-    GenesisData (GDP6),
+    GenesisData (GDP6, GDP7),
     defaultRuntimeParameters,
     genesisBlockHash,
  )
@@ -145,6 +146,7 @@ instance HasBakerContext (TestContext pv) where
 genesisCore :: forall pv. (IsConsensusV1 pv, IsProtocolVersion pv) => GenesisData pv -> BaseV1.CoreGenesisParametersV1
 genesisCore = case protocolVersion @pv of
     SP6 -> \(GDP6 P6.GDP6Initial{genesisCore = core}) -> core
+    SP7 -> \(GDP7 P7.GDP7Initial{genesisCore = core}) -> core
 
 -- | Run an operation in the 'TestMonad' with the given baker, time and genesis data.
 --  This sets up a temporary blob store for the block state that is deleted after use.
diff --git a/concordium-consensus/src/Concordium/ProtocolUpdate/P5/ProtocolP6.hs b/concordium-consensus/src/Concordium/ProtocolUpdate/P5/ProtocolP6.hs
index 06d926b38f..46b47d4ee7 100644
--- a/concordium-consensus/src/Concordium/ProtocolUpdate/P5/ProtocolP6.hs
+++ b/concordium-consensus/src/Concordium/ProtocolUpdate/P5/ProtocolP6.hs
@@ -7,7 +7,7 @@
 --  The update is specified at:
 --  https://github.com/Concordium/concordium-update-proposals/blob/main/updates/P6.txt
 --
---  This protocol update is valid at protocol version P6, and updates
+--  This protocol update is valid at protocol version P5, and updates
 --  to protocol version P6.
 --  The block state is changed during the update.
 --
diff --git a/concordium-consensus/src/Concordium/ProtocolUpdate/P6.hs b/concordium-consensus/src/Concordium/ProtocolUpdate/P6.hs
index a31a928eb4..3e1e16de6b 100644
--- a/concordium-consensus/src/Concordium/ProtocolUpdate/P6.hs
+++ b/concordium-consensus/src/Concordium/ProtocolUpdate/P6.hs
@@ -22,15 +22,22 @@ import Concordium.GlobalState.Types
 import qualified Concordium.GlobalState.Types as GSTypes
 import Concordium.KonsensusV1.TreeState.Implementation
 import Concordium.KonsensusV1.TreeState.Types
+import qualified Concordium.ProtocolUpdate.P6.ProtocolP7 as ProtocolP7
 import qualified Concordium.ProtocolUpdate.P6.Reboot as Reboot
 
 -- | Updates that are supported from protocol version P6.
-data Update = Reboot
+data Update
+    = Reboot
+    | ProtocolP7
     deriving (Show)
 
 -- | Hash map for resolving updates from their specification hash.
 updates :: HM.HashMap SHA256.Hash (Get Update)
-updates = HM.fromList [(Reboot.updateHash, return Reboot)]
+updates =
+    HM.fromList
+        [ (Reboot.updateHash, return Reboot)
+        -- (ProtocolP7.updateHash, return ProtocolP7) Comment out to enable updating to P7.
+        ]
 
 -- | Determine if a 'ProtocolUpdate' corresponds to a supported update type.
 checkUpdate :: ProtocolUpdate -> Either String Update
@@ -53,9 +60,11 @@ updateRegenesis ::
     BlockPointer (MPV m) ->
     m (PVInit m)
 updateRegenesis Reboot = Reboot.updateRegenesis
+updateRegenesis ProtocolP7 = ProtocolP7.updateRegenesis
 
 -- | Determine the protocol version the update will update to.
 updateNextProtocolVersion ::
     Update ->
     SomeProtocolVersion
 updateNextProtocolVersion Reboot{} = SomeProtocolVersion SP6
+updateNextProtocolVersion ProtocolP7{} = SomeProtocolVersion SP7
diff --git a/concordium-consensus/src/Concordium/ProtocolUpdate/P6/ProtocolP7.hs b/concordium-consensus/src/Concordium/ProtocolUpdate/P6/ProtocolP7.hs
new file mode 100644
index 0000000000..b557527cfe
--- /dev/null
+++ b/concordium-consensus/src/Concordium/ProtocolUpdate/P6/ProtocolP7.hs
@@ -0,0 +1,112 @@
+{-# LANGUAGE DataKinds #-}
+{-# LANGUAGE OverloadedStrings #-}
+{-# LANGUAGE TypeFamilies #-}
+
+-- | This module implements the P6.ProtocolP7 protocol update.
+--  This protocol update is valid at protocol version P6, and updates
+--  to protocol version P7.
+--
+--  This produces a new 'RegenesisDataP7' using the 'GDP7Regenesis' constructor,
+--  as follows:
+--
+--  * 'genesisCore':
+--
+--      * 'genesisTime' is the timestamp of the last finalized block of the previous chain.
+--      * 'genesisEpochDuration' is taken from the previous genesis.
+--      * 'genesisSignatureThreshold' is taken from the previous genesis.
+--
+--  * 'genesisFirstGenesis' is either:
+--
+--      * the hash of the genesis block of the previous chain, if it is a 'GDP6Initial'; or
+--      * the 'genesisFirstGenesis' value of the genesis block of the previous chain, if it
+--        is a 'GDP6Regenesis'.
+--
+--  * 'genesisPreviousGenesis' is the hash of the previous genesis block.
+--
+--  * 'genesisTerminalBlock' is the hash of the last finalized block of the previous chain.
+--
+--  * 'genesisStateHash' is the state hash of the last finalized block of the previous chain.
+--
+--  The block state is taken from the last finalized block of the previous chain. It is updated
+--  as part of the state migration, which makes the following changes:
+--
+--  * The seed state is migrated as follows:
+--
+--      * The current epoch is reset to zero.
+--      * The current and updated leadership election nonce are set to the hash of
+--        @"Regenesis" <> encode oldUpdatedNonce@.
+--      * The trigger block time is kept the same, meaning that the epoch will transition as soon
+--        as possible.
+--      * The epoch transition triggered flag is set.
+--      * The shutdown triggered flag is cleared.
+--
+--  * The old current epoch is subtracted from the next payday epoch.
+--
+--  * The protocol update queue is emptied during the migration.
+--
+--  Note that, the initial epoch of the new chain is not considered
+--  a new epoch for the purposes of block rewards and baker/finalization committee determination.
+--  In particular, the timing of the next payday will be the same as if the protocol update
+--  had not happened. (For instance, if it would have happened at the start of the next epoch
+--  prior to the protocol update, after the update it will happen at the start of epoch 1.
+--  The trigger block time in epoch 0 of the new consensus is the same as the trigger block
+--  time in the final epoch of the old consensus.)
+--  Furthermore, the bakers from the final epoch of the previous chain are also the bakers for the
+--  initial epoch of the new chain.
+module Concordium.ProtocolUpdate.P6.ProtocolP7 where
+
+import Control.Monad.State
+import Lens.Micro.Platform
+
+import qualified Concordium.Crypto.SHA256 as SHA256
+import qualified Concordium.Genesis.Data as GenesisData
+import qualified Concordium.Genesis.Data.BaseV1 as BaseV1
+import qualified Concordium.Genesis.Data.P7 as P7
+import Concordium.GlobalState.BlockState
+import qualified Concordium.GlobalState.Persistent.BlockState as PBS
+import Concordium.GlobalState.Types
+import qualified Concordium.GlobalState.Types as GSTypes
+import qualified Concordium.KonsensusV1.TreeState.Implementation as TreeState
+import Concordium.KonsensusV1.TreeState.Types
+import Concordium.KonsensusV1.Types
+import Concordium.Types.HashableTo (getHash)
+import Concordium.Types.ProtocolVersion
+
+-- | The hash that identifies a update from P6 to P7 protocol.
+--  This is the hash of the published specification document.
+updateHash :: SHA256.Hash
+updateHash = SHA256.hash "P6.ProtocolP7-placeholder-until-spec-hash-is-known"
+
+-- | Construct the genesis data for a P6.ProtocolP7 update.
+--  This takes the terminal block of the old chain which is used as the basis for constructing
+--  the new genesis block.
+updateRegenesis ::
+    ( MPV m ~ 'P6,
+      BlockStateStorage m,
+      MonadState (TreeState.SkovData (MPV m)) m,
+      GSTypes.BlockState m ~ PBS.HashedPersistentBlockState (MPV m)
+    ) =>
+    -- | The terminal block of the old chain.
+    BlockPointer 'P6 ->
+    m (PVInit m)
+updateRegenesis terminalBlock = do
+    -- Genesis time is the timestamp of the terminal block
+    let regenesisTime = blockTimestamp terminalBlock
+    -- Core parameters are derived from the old genesis, apart from genesis time which is set for
+    -- the time of the terminal block.
+    gMetadata <- use TreeState.genesisMetadata
+    BaseV1.CoreGenesisParametersV1{..} <- gmParameters <$> use TreeState.genesisMetadata
+    let core =
+            BaseV1.CoreGenesisParametersV1
+                { BaseV1.genesisTime = regenesisTime,
+                  ..
+                }
+    -- genesisFirstGenesis is the block hash of the previous genesis, if it is initial,
+    -- or the genesisFirstGenesis of the previous genesis otherwise.
+    let genesisFirstGenesis = gmFirstGenesisHash gMetadata
+        genesisPreviousGenesis = gmCurrentGenesisHash gMetadata
+        genesisTerminalBlock = getHash terminalBlock
+    let regenesisBlockState = bpState terminalBlock
+    genesisStateHash <- getStateHash regenesisBlockState
+    let newGenesis = GenesisData.RGDP7 $ P7.GDP7Regenesis{genesisRegenesis = BaseV1.RegenesisDataV1{genesisCore = core, ..}}
+    return (PVInit newGenesis GenesisData.StateMigrationParametersP6ToP7 (bmHeight $ bpInfo terminalBlock))
diff --git a/concordium-consensus/src/Concordium/ProtocolUpdate/P6/Reboot.hs b/concordium-consensus/src/Concordium/ProtocolUpdate/P6/Reboot.hs
index d754fb94a3..ec7e4c0f49 100644
--- a/concordium-consensus/src/Concordium/ProtocolUpdate/P6/Reboot.hs
+++ b/concordium-consensus/src/Concordium/ProtocolUpdate/P6/Reboot.hs
@@ -11,9 +11,8 @@
 --  * 'genesisCore':
 --
 --      * 'genesisTime' is the timestamp of the last finalized block of the previous chain.
---      * 'genesisEpochDuration' is calculated from the previous epoch duration (in slots) times
---        the slot duration.
---      * 'genesisSignatureThreshold' is 2/3.
+--      * 'genesisEpochDuration' is taken from the previous genesis.
+--      * 'genesisSignatureThreshold' is taken from the previous genesis.
 --
 --  * 'genesisFirstGenesis' is either:
 --
diff --git a/concordium-consensus/src/Concordium/ProtocolUpdate/P7.hs b/concordium-consensus/src/Concordium/ProtocolUpdate/P7.hs
new file mode 100644
index 0000000000..14916211f3
--- /dev/null
+++ b/concordium-consensus/src/Concordium/ProtocolUpdate/P7.hs
@@ -0,0 +1,61 @@
+{-# LANGUAGE DataKinds #-}
+{-# LANGUAGE TypeFamilies #-}
+
+module Concordium.ProtocolUpdate.P7 (
+    Update (..),
+    checkUpdate,
+    updateRegenesis,
+    updateNextProtocolVersion,
+) where
+
+import Control.Monad.State
+import qualified Data.HashMap.Strict as HM
+import Data.Serialize
+
+import qualified Concordium.Crypto.SHA256 as SHA256
+import Concordium.Types
+import Concordium.Types.Updates
+
+import Concordium.GlobalState.BlockState
+import qualified Concordium.GlobalState.Persistent.BlockState as PBS
+import Concordium.GlobalState.Types
+import qualified Concordium.GlobalState.Types as GSTypes
+import Concordium.KonsensusV1.TreeState.Implementation
+import Concordium.KonsensusV1.TreeState.Types
+import qualified Concordium.ProtocolUpdate.P7.Reboot as Reboot
+
+-- | Updates that are supported from protocol version P7.
+data Update = Reboot
+    deriving (Show)
+
+-- | Hash map for resolving updates from their specification hash.
+updates :: HM.HashMap SHA256.Hash (Get Update)
+updates = HM.fromList [(Reboot.updateHash, return Reboot)]
+
+-- | Determine if a 'ProtocolUpdate' corresponds to a supported update type.
+checkUpdate :: ProtocolUpdate -> Either String Update
+checkUpdate ProtocolUpdate{..} = case HM.lookup puSpecificationHash updates of
+    Nothing -> Left "Specification hash does not correspond to a known protocol update."
+    Just updateGet -> case runGet updateGet puSpecificationAuxiliaryData of
+        Left err -> Left $! "Could not deserialize auxiliary data: " ++ err
+        Right update -> return update
+
+-- | Construct the genesis data for a P7 update.
+updateRegenesis ::
+    ( MPV m ~ 'P7,
+      BlockStateStorage m,
+      MonadState (SkovData (MPV m)) m,
+      GSTypes.BlockState m ~ PBS.HashedPersistentBlockState (MPV m)
+    ) =>
+    -- | The update taking effect.
+    Update ->
+    -- | The terminal block of the old chain.
+    BlockPointer (MPV m) ->
+    m (PVInit m)
+updateRegenesis Reboot = Reboot.updateRegenesis
+
+-- | Determine the protocol version the update will update to.
+updateNextProtocolVersion ::
+    Update ->
+    SomeProtocolVersion
+updateNextProtocolVersion Reboot{} = SomeProtocolVersion SP7
diff --git a/concordium-consensus/src/Concordium/ProtocolUpdate/P7/Reboot.hs b/concordium-consensus/src/Concordium/ProtocolUpdate/P7/Reboot.hs
new file mode 100644
index 0000000000..f42cd9df66
--- /dev/null
+++ b/concordium-consensus/src/Concordium/ProtocolUpdate/P7/Reboot.hs
@@ -0,0 +1,110 @@
+{-# LANGUAGE DataKinds #-}
+{-# LANGUAGE OverloadedStrings #-}
+{-# LANGUAGE TypeFamilies #-}
+
+-- | This module implements the P7.Reboot protocol update.
+--  This protocol update is valid at protocol version P7, and updates
+--  to protocol version P7.
+--  This produces a new 'RegenesisDataP7' using the 'GDP7Regenesis' constructor,
+--  as follows:
+--
+--  * 'genesisCore':
+--
+--      * 'genesisTime' is the timestamp of the last finalized block of the previous chain.
+--      * 'genesisEpochDuration' is taken from the previous genesis.
+--      * 'genesisSignatureThreshold' is taken from the previous genesis.
+--
+--  * 'genesisFirstGenesis' is either:
+--
+--      * the hash of the genesis block of the previous chain, if it is a 'GDP7Initial'; or
+--      * the 'genesisFirstGenesis' value of the genesis block of the previous chain, if it
+--        is a 'GDP6Regenesis'.
+--
+--  * 'genesisPreviousGenesis' is the hash of the previous genesis block.
+--
+--  * 'genesisTerminalBlock' is the hash of the last finalized block of the previous chain.
+--
+--  * 'genesisStateHash' is the state hash of the last finalized block of the previous chain.
+--
+--  The block state is taken from the last finalized block of the previous chain. It is updated
+--  as part of the state migration, which makes the following changes:
+--
+--  * The seed state is migrated as follows:
+--
+--      * The current epoch is reset to zero.
+--      * The current and updated leadership election nonce are set to the hash of
+--        @"Regenesis" <> encode oldUpdatedNonce@.
+--      * The trigger block time is kept the same, meaning that the epoch will transition as soon
+--        as possible.
+--      * The epoch transition triggered flag is set.
+--      * The shutdown triggered flag is cleared.
+--
+--  * The old current epoch is subtracted from the next payday epoch.
+--
+--  * The protocol update queue is emptied during the migration.
+--
+--  Note that, the initial epoch of the new chain is not considered
+--  a new epoch for the purposes of block rewards and baker/finalization committee determination.
+--  In particular, the timing of the next payday will be the same as if the protocol update
+--  had not happened. (For instance, if it would have happened at the start of the next epoch
+--  prior to the protocol update, after the update it will happen at the start of epoch 1.
+--  The trigger block time in epoch 0 of the new consensus is the same as the trigger block
+--  time in the final epoch of the old consensus.)
+--  Furthermore, the bakers from the final epoch of the previous chain are also the bakers for the
+--  initial epoch of the new chain.
+module Concordium.ProtocolUpdate.P7.Reboot where
+
+import Control.Monad.State
+import Lens.Micro.Platform
+
+import qualified Concordium.Crypto.SHA256 as SHA256
+import qualified Concordium.Genesis.Data as GenesisData
+import qualified Concordium.Genesis.Data.BaseV1 as BaseV1
+import qualified Concordium.Genesis.Data.P7 as P7
+import Concordium.GlobalState.BlockState
+import qualified Concordium.GlobalState.Persistent.BlockState as PBS
+import Concordium.GlobalState.Types
+import qualified Concordium.GlobalState.Types as GSTypes
+import Concordium.KonsensusV1.TreeState.Implementation
+import Concordium.KonsensusV1.TreeState.Types
+import Concordium.KonsensusV1.Types
+import Concordium.Types.HashableTo (getHash)
+import Concordium.Types.ProtocolVersion
+
+-- | The hash that identifies the P7.Reboot update.
+updateHash :: SHA256.Hash
+updateHash = SHA256.hash "P7.Reboot"
+
+-- | Construct the genesis data for a P7.Reboot update.
+--  This takes the terminal block of the old chain which is used as the basis for constructing
+--  the new genesis block.
+updateRegenesis ::
+    ( MPV m ~ 'P7,
+      BlockStateStorage m,
+      MonadState (SkovData (MPV m)) m,
+      GSTypes.BlockState m ~ PBS.HashedPersistentBlockState (MPV m)
+    ) =>
+    -- | The terminal block of the old chain.
+    BlockPointer 'P7 ->
+    m (PVInit m)
+updateRegenesis terminal = do
+    -- Genesis time is the timestamp of the terminal block
+    let regenesisTime = blockTimestamp terminal
+    -- Core parameters are derived from the old genesis, apart from genesis time which is set for
+    -- the time of the terminal block.
+    gMetadata <- use genesisMetadata
+    BaseV1.CoreGenesisParametersV1{..} <- gmParameters <$> use genesisMetadata
+    let core =
+            BaseV1.CoreGenesisParametersV1
+                { BaseV1.genesisTime = regenesisTime,
+                  ..
+                }
+    -- genesisFirstGenesis is the block hash of the previous genesis, if it is initial,
+    -- or the genesisFirstGenesis of the previous genesis otherwise.
+    let genesisFirstGenesis = gmFirstGenesisHash gMetadata
+        genesisPreviousGenesis = gmCurrentGenesisHash gMetadata
+        genesisTerminalBlock = getHash terminal
+    let regenesisBlockState = bpState terminal
+    genesisStateHash <- getStateHash regenesisBlockState
+    let newGenesis = GenesisData.RGDP7 $ P7.GDP7Regenesis{genesisRegenesis = BaseV1.RegenesisDataV1{genesisCore = core, ..}}
+    return (PVInit newGenesis GenesisData.StateMigrationParametersTrivial (bmHeight $ bpInfo terminal))
diff --git a/concordium-consensus/src/Concordium/Scheduler.hs b/concordium-consensus/src/Concordium/Scheduler.hs
index 38e8ed852f..56fd61b7b4 100644
--- a/concordium-consensus/src/Concordium/Scheduler.hs
+++ b/concordium-consensus/src/Concordium/Scheduler.hs
@@ -1250,6 +1250,7 @@ handleContractUpdateV1 originAddr istance checkAndGetSender transferAmount recei
                                                             P4 -> events
                                                             P5 -> resumeEvent False : interruptEvent : events
                                                             P6 -> resumeEvent False : interruptEvent : events
+                                                            P7 -> resumeEvent False : interruptEvent : events
                                                 go newEvents =<< runInterpreter (return . WasmV1.resumeReceiveFun rrdInterruptedConfig rrdCurrentState False entryBalance (WasmV1.Error (WasmV1.EnvFailure (WasmV1.MissingContract imcTo))) Nothing)
                                             Just (InstanceInfoV0 targetInstance) -> do
                                                 -- we are invoking a V0 instance.
diff --git a/concordium-consensus/src/Concordium/Scheduler/TreeStateEnvironment.hs b/concordium-consensus/src/Concordium/Scheduler/TreeStateEnvironment.hs
index 80f3b8ed16..12562acef5 100644
--- a/concordium-consensus/src/Concordium/Scheduler/TreeStateEnvironment.hs
+++ b/concordium-consensus/src/Concordium/Scheduler/TreeStateEnvironment.hs
@@ -1181,6 +1181,7 @@ putBakerCommissionsInRange ranges bs (BakerId ai) = case protocolVersion @(MPV m
     SP4 -> bsoConstrainBakerCommission bs ai ranges
     SP5 -> bsoConstrainBakerCommission bs ai ranges
     SP6 -> bsoConstrainBakerCommission bs ai ranges
+    SP7 -> bsoConstrainBakerCommission bs ai ranges
 
 -- | The result of executing the block prologue.
 data PrologueResult m = PrologueResult
diff --git a/concordium-consensus/src/Concordium/Startup.hs b/concordium-consensus/src/Concordium/Startup.hs
index 22a5a11954..3ec930d22f 100644
--- a/concordium-consensus/src/Concordium/Startup.hs
+++ b/concordium-consensus/src/Concordium/Startup.hs
@@ -37,6 +37,7 @@ import qualified Concordium.Genesis.Data.P3 as P3
 import qualified Concordium.Genesis.Data.P4 as P4
 import qualified Concordium.Genesis.Data.P5 as P5
 import qualified Concordium.Genesis.Data.P6 as P6
+import qualified Concordium.Genesis.Data.P7 as P7
 import Concordium.GlobalState.BakerInfo
 import Concordium.GlobalState.DummyData
 import Concordium.GlobalState.Parameters
@@ -257,3 +258,9 @@ makeGenesisDataV1
                         { genesisCore = GDBaseV1.CoreGenesisParametersV1{..},
                           genesisInitialState = GenesisData.GenesisState{genesisAccounts = Vec.fromList genesisAccounts, ..}
                         }
+            SP7 ->
+                GDP7
+                    P7.GDP7Initial
+                        { genesisCore = GDBaseV1.CoreGenesisParametersV1{..},
+                          genesisInitialState = GenesisData.GenesisState{genesisAccounts = Vec.fromList genesisAccounts, ..}
+                        }
diff --git a/concordium-consensus/tests/scheduler/SchedulerTests/Helpers.hs b/concordium-consensus/tests/scheduler/SchedulerTests/Helpers.hs
index 8314414815..4d0bda6163 100644
--- a/concordium-consensus/tests/scheduler/SchedulerTests/Helpers.hs
+++ b/concordium-consensus/tests/scheduler/SchedulerTests/Helpers.hs
@@ -131,7 +131,8 @@ forEveryProtocolVersion check =
       check Types.SP3 "P3",
       check Types.SP4 "P4",
       check Types.SP5 "P5",
-      check Types.SP6 "P6"
+      check Types.SP6 "P6",
+      check Types.SP7 "P7"
     ]
 
 -- | Construct a test block state containing the provided accounts.