diff --git a/.github/workflows/build-latest.yml b/.github/workflows/build-latest.yml
index 8c9b3fd1..22a7396c 100644
--- a/.github/workflows/build-latest.yml
+++ b/.github/workflows/build-latest.yml
@@ -33,7 +33,7 @@ jobs:
       arch: amd64
       tag: ${{ inputs.tag-prefix }}latest-amd64
       xdr_ref: v20.1.0
-      core_ref: v20.2.0
+      core_ref: v20.3.0
       go_ref: horizon-v2.28.3
       soroban_tools_ref: v20.3.0
       test_matrix: |
@@ -55,7 +55,7 @@ jobs:
       arch: arm64
       tag: ${{ inputs.tag-prefix }}latest-arm64
       xdr_ref: v20.1.0
-      core_ref: v20.2.0
+      core_ref: v20.3.0
       core_build_runner_type: ubuntu-latest-16-cores
       go_ref: horizon-v2.28.3
       soroban_tools_ref: v20.3.0
diff --git a/.github/workflows/build-testing.yml b/.github/workflows/build-testing.yml
index d17ae59a..e91e35d4 100644
--- a/.github/workflows/build-testing.yml
+++ b/.github/workflows/build-testing.yml
@@ -34,7 +34,7 @@ jobs:
       arch: amd64
       tag: ${{ inputs.tag-prefix }}testing-amd64
       xdr_ref: v20.1.0
-      core_ref: v20.3.0rc2
+      core_ref: v20.3.0
       core_supports_enable_soroban_diagnostic_events: "true"
       go_ref: horizon-v2.28.3
       soroban_tools_ref: v20.3.0
@@ -57,7 +57,7 @@ jobs:
       arch: arm64
       tag: ${{ inputs.tag-prefix }}testing-arm64
       xdr_ref: v20.1.0
-      core_ref: v20.3.0rc2
+      core_ref: v20.3.0
       core_supports_enable_soroban_diagnostic_events: "true"
       core_build_runner_type: ubuntu-latest-16-cores
       go_ref: horizon-v2.28.3
diff --git a/Makefile b/Makefile
index 06983fc1..3c8d40ff 100644
--- a/Makefile
+++ b/Makefile
@@ -24,7 +24,7 @@ console:
 build-latest:
 	$(MAKE) build TAG=latest \
 		XDR_REF=v20.1.0 \
-		CORE_REF=v20.2.0 \
+		CORE_REF=v20.3.0 \
 		CORE_SUPPORTS_ENABLE_SOROBAN_DIAGNOSTIC_EVENTS=true \
 		HORIZON_REF=horizon-v2.28.3 \
 		SOROBAN_RPC_REF=v20.3.0
@@ -32,7 +32,7 @@ build-latest:
 build-testing:
 	$(MAKE) build TAG=testing \
 		XDR_REF=v20.1.0 \
-		CORE_REF=v20.3.0rc2 \
+		CORE_REF=v20.3.0 \
 		CORE_SUPPORTS_ENABLE_SOROBAN_DIAGNOSTIC_EVENTS=true \
 		HORIZON_REF=horizon-v2.28.3 \
 		SOROBAN_RPC_REF=v20.3.0
diff --git a/local/core/etc/config-settings/testnet.json b/local/core/etc/config-settings/testnet.json
index faf7518c..45532313 100644
--- a/local/core/etc/config-settings/testnet.json
+++ b/local/core/etc/config-settings/testnet.json
@@ -7,7 +7,7 @@
       "contract_compute_v0": {
         "ledger_max_instructions": 100000000,
         "tx_max_instructions": 100000000,
-        "fee_rate_per_instructions_increment": 100,
+        "fee_rate_per_instructions_increment": 25,
         "tx_memory_limit": 41943040
       }
     },
@@ -15,37 +15,37 @@
       "contract_ledger_cost_v0": {
         "ledger_max_read_ledger_entries": 40,
         "ledger_max_read_bytes": 133120,
-        "ledger_max_write_ledger_entries": 20,
+        "ledger_max_write_ledger_entries": 25,
         "ledger_max_write_bytes": 66560,
         "tx_max_read_ledger_entries": 40,
         "tx_max_read_bytes": 133120,
-        "tx_max_write_ledger_entries": 20,
+        "tx_max_write_ledger_entries": 25,
         "tx_max_write_bytes": 66560,
-        "fee_read_ledger_entry": 1000,
-        "fee_write_ledger_entry": 3000,
-        "fee_read1_kb": 1000,
+        "fee_read_ledger_entry": 6250,
+        "fee_write_ledger_entry": 10000,
+        "fee_read1_kb": 1786,
         "bucket_list_target_size_bytes": 14495514624,
-        "write_fee1_kb_bucket_list_low": 1000,
-        "write_fee1_kb_bucket_list_high": 4000000,
+        "write_fee1_kb_bucket_list_low": -12034,
+        "write_fee1_kb_bucket_list_high": 115390,
         "bucket_list_write_fee_growth_factor": 1000
       }
     },
     {
       "contract_historical_data_v0": {
-        "fee_historical1_kb": 5000
+        "fee_historical1_kb": 16235
       }
     },
     {
       "contract_events_v0": {
         "tx_max_contract_events_size_bytes": 8198,
-        "fee_contract_events1_kb": 300
+        "fee_contract_events1_kb": 10000
       }
     },
     {
       "contract_bandwidth_v0": {
         "ledger_max_txs_size_bytes": 71680,
         "tx_max_size_bytes": 71680,
-        "fee_tx_size1_kb": 500
+        "fee_tx_size1_kb": 1624
       }
     },
     {
@@ -287,7 +287,7 @@
       ]
     },
     {
-      "contract_data_key_size_bytes": 300
+      "contract_data_key_size_bytes": 200
     },
     {
       "contract_data_entry_size_bytes": 65536
@@ -295,15 +295,15 @@
     {
       "state_archival": {
           "max_entry_ttl": 3110400,
-          "min_temporary_ttl": 16,
-          "min_persistent_ttl": 120960,
-          "persistent_rent_rate_denominator": 535680,
-          "temp_rent_rate_denominator": 5356800,
-          "max_entries_to_archive": 100,
+          "min_temporary_ttl": 17280,
+          "min_persistent_ttl": 2073600,
+          "persistent_rent_rate_denominator": 1402,
+          "temp_rent_rate_denominator": 2804,
+          "max_entries_to_archive": 1000,
           "bucket_list_size_window_sample_size": 30,
           "bucket_list_window_sample_period": 64,
-          "eviction_scan_size": 1048576,
-          "starting_eviction_scan_level": 6
+          "eviction_scan_size": 100000,
+          "starting_eviction_scan_level": 7
       }
     },
     {