diff --git a/gradle.properties b/gradle.properties
index 829478b1..846896aa 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -1,29 +1,29 @@
 org.gradle.caching=true
 org.gradle.jvmargs='-Dfile.encoding=UTF-8'
 group=io.ballerina
-version=3.0.1-SNAPSHOT
+version=3.1.0-SNAPSHOT
 systemProp.org.gradle.internal.publish.checksums.insecure=true
-ballerinaLangVersion=2201.9.0-20240510-132300-740a149f
+ballerinaLangVersion=2201.10.0-20240806-083400-aabac46a
 stdlibConstraintVersion=1.5.0
-stdlibIoVersion=1.6.0
-stdlibLogVersion=2.9.0
-stdlibHttpVersion=2.11.0
-stdlibAuthVersion=2.11.0
-stdlibFileVersion=1.9.0
+stdlibIoVersion=1.6.1
+stdlibLogVersion=2.10.0-20240807-203000-b85cfb9
+stdlibHttpVersion=2.12.0-20240809-111500-91b1ccd
+stdlibAuthVersion=2.12.0-20240807-214700-37b31bb
+stdlibFileVersion=1.10.0-20240807-205900-a4d66bb
 stdlibCacheVersion=3.8.0
-stdlibCryptoVersion=2.7.0
+stdlibCryptoVersion=2.7.2
 stdlibTimeVersion=2.4.0
-stdlibMimeVersion=2.9.0
+stdlibMimeVersion=2.10.0-20240807-205100-2728cdc
 stdlibOsVersion=1.8.0
 stdlibTaskVersion=2.5.0
-stdlibJwtVersion=2.11.0
-stdlibGrpcVersion=1.11.0
-stdlibOAuth2Version=2.11.0
+stdlibJwtVersion=2.13.0-20240809-095500-b9d03ed
+stdlibGrpcVersion=1.12.0-20240809-125800-0b4a6a7
+stdlibOAuth2Version=2.12.0-20240807-220200-7f7294b
 stdlibUuidVersion=1.8.0
-stdlibGraphqlVersion=1.12.0
+stdlibGraphqlVersion=1.14.0-20240809-155800-d79bf35
 stdlibUrlVersion=2.4.0
-stdlibWebsubVersion=2.11.0
-stdlibWebsubhubVersion=1.11.0
-observeVersion=1.2.3
-observeInternalVersion=1.2.2
+stdlibWebsubVersion=2.12.0-20240809-141900-6da2c05
+stdlibWebsubhubVersion=1.12.0-20240809-145300-5c3d48f
+observeVersion=1.3.0-20240807-093200-e29ca7a
+observeInternalVersion=1.3.0-20240807-094500-91e2d3a
 ballerinaGradlePluginVersion=2.0.1