diff --git a/CHANGELOG.md b/CHANGELOG.md
new file mode 100644
index 0000000000..5ddad421e0
--- /dev/null
+++ b/CHANGELOG.md
@@ -0,0 +1 @@
+# Changelog
\ No newline at end of file
diff --git a/CHANGELOG_PENDING.md b/CHANGELOG_PENDING.md
new file mode 100644
index 0000000000..e20dcff3d8
--- /dev/null
+++ b/CHANGELOG_PENDING.md
@@ -0,0 +1,52 @@
+# Unreleased Changes
+
+## vX.X
+
+### Upcoming Changes
+
+- The following flags are pending deprecation and will be removed in the next release:
+    - `-gasPrice`
+    - `-s3bucket`
+    - `-s3creds`
+    - `-gsbucket`
+    - `-gskey`
+
+### Features ⚒
+
+#### General
+
+- \#1759 Log non-nil error when webserver stops (@AlexMapley)
+- \#1773 Fix Windows build by downloading pre-configured nasm (@iameli)
+- \#1779 Fix "Build from Source" link in the README (@chrishobcroft)
+- \#1778 Add live mode to `livepeer_bench` and expose additional metrics (@jailuthra)
+- \#1785 Update the Windows build to be fully static and to use go1.15 (@iameli)
+- \#1727 Add a `-maxGasPrice` flag to set the maximum gas price to use for transactions (@kyriediculous)
+- \#1790 Add changelog process
+- \#1791 Switch to Github actions for Linux build and test
+
+#### Broadcaster
+
+- \#1754 Count bytes of video data received/sent per stream and expose via the /status endpoint (@darkdragon)
+- \#1764 Mark all input errors in LPMS as non-retryable during transcoding (@jailuthra)
+
+#### Orchestrator
+
+- \#1731 Add support for webhook to authenticate and set prices for broadcasters at the start of a session (@kyriediculous)
+- \#1761 Add a `livepeer_router` binary that can route broadcasters to different orchestrators (@yondonfu)
+
+### Bug Fixes 🐞
+
+#### General
+
+- \#1729 Make sure the block watcher service can process multiple blocks in a single polling interval (@kyriediculous)
+- \#1795 Fix Darwin build by changing optimization flag used for gnutls dependency (@iameli)
+
+#### Broadcaster
+
+- \#1766 Flush JSON playlist during recording after it is modified (@jailuthra)
+- \#1770 Fix parallel reading from object storage (@darkdragon)
+
+#### Transcoder
+
+- \#1775 Fix transcoder load balancer race condition around session cleanup (@jailuthra)
+- \#1784 Use auth token sessionID to index into sessions map in transcoder load balancer (@jailuthra)
\ No newline at end of file
diff --git a/PULL_REQUEST_TEMPLATE.md b/PULL_REQUEST_TEMPLATE.md
index a90217e2cd..18cf719244 100644
--- a/PULL_REQUEST_TEMPLATE.md
+++ b/PULL_REQUEST_TEMPLATE.md
@@ -18,6 +18,8 @@
 **Checklist:**
 <!--- Go over all the following points, and put an `x` in all the boxes that apply. -->
 <!--- If you're unsure about any of these, don't hesitate to ask. We're here to help! -->
-- [ ] README and other documentation updated
-- [ ] Node runs in OSX and devenv
+- [ ] Read the [contribution guide](./doc/contributing.md)
+- [ ] `make` runs successfully
 - [ ] All tests in `./test.sh` pass
+- [ ] README and other documentation updated
+- [ ] [Pending changelog](./CHANGELOG_PENDING.md) updated
diff --git a/cmd/scripts/linkify_changelog.go b/cmd/scripts/linkify_changelog.go
new file mode 100644
index 0000000000..d1cb2d68cd
--- /dev/null
+++ b/cmd/scripts/linkify_changelog.go
@@ -0,0 +1,52 @@
+package main
+
+import (
+	"bufio"
+	"io/ioutil"
+	"log"
+	"os"
+	"regexp"
+	"strings"
+)
+
+// Based on https://github.com/tendermint/tendermint/blob/master/scripts/linkify_changelog.py
+// This script goes through the provided file, and replaces any " \#<number>",
+// with the valid markdown formatted link to it. e.g.
+// " [\#number](https://github.com/livepeer/go-livepeer/pull/<number>)"
+// Note that if the number is for a an issue, github will auto-redirect you when you click the link.
+// It is safe to run the script multiple times in succession.
+//
+// Example usage $ go run cmd/scripts/linkify_changelog.go CHANGELOG_PENDING.md
+func main() {
+	if len(os.Args) < 2 {
+		log.Fatal("Expected filename")
+	}
+
+	fname := os.Args[1]
+
+	f, err := os.Open(fname)
+	if err != nil {
+		log.Fatal(err)
+	}
+	defer f.Close()
+
+	re, err := regexp.Compile(`\\#([0-9]*)`)
+	if err != nil {
+		log.Fatal(err)
+	}
+
+	var lines []string
+	scanner := bufio.NewScanner(f)
+	for scanner.Scan() {
+		line := re.ReplaceAllString(scanner.Text(), `[#$1](https://github.com/livepeer/go-livepeer/pull/$1)`)
+		lines = append(lines, line)
+	}
+
+	if err := scanner.Err(); err != nil {
+		log.Fatal(err)
+	}
+
+	if err := ioutil.WriteFile(fname, []byte(strings.Join(lines, "\n")), 0644); err != nil {
+		log.Fatal(err)
+	}
+}
diff --git a/doc/contributing.md b/doc/contributing.md
new file mode 100644
index 0000000000..d692498c1e
--- /dev/null
+++ b/doc/contributing.md
@@ -0,0 +1,17 @@
+# Contributing
+
+## Changelog
+
+Every change (feature, bug fix, etc.) should be made in a PR that includes an update to the `CHANGELOG_PENDING.md` file which tracks the set of changes that will be included in the next release.
+
+Changelog entries should be formatted as follows:
+
+```
+- \#xxx Description of the change (@contributor)
+```
+
+`xxx` is the PR number (if for whatever reason a PR number cannot be used the issue number is acceptable) and `contributor` is the author of the change. The full link to the PR is not necessary because it will automatically be added when a release is created, but make sure to include the backslash and pound i.e. `\#2313`.
+
+Changelog entries should be classified based on the `livepeer` mode of operation that they pertain to i.e. General, Broadcaster, Orchestrator, Transcoder.
+
+Breaking changes should be documented in the "Breaking changes" section. Any changes that involve pending deprecations (i.e. a flag will be removed in the next release) should be documented in the "Upcoming changes" section.
\ No newline at end of file
diff --git a/doc/releases.md b/doc/releases.md
index 287324787f..2c95ca8b77 100644
--- a/doc/releases.md
+++ b/doc/releases.md
@@ -62,14 +62,25 @@ Once we complete this stage, we prepare a mainnet release.
 
 ### Cutting a mainnet release of go-livepeer
 
-First, make the release commit on a branch:
+Create the release commit on a branch:
 
-```bash
-git checkout -b release-0.5.2 
-echo -n '0.5.2' > VERSION
-git commit -am 'release v0.5.2'
-git push -u origin release-0.5.2
-```
+1. Checkout a release branch
+
+    ```bash
+    git checkout -b release-0.5.2
+    ```
+
+2. `echo -n '0.5.2' > VERSION`
+
+3. Update the changelog
+
+    - Copy all entries from `CHANGELOG_PENDING.md` to the top of `CHANGELOG.md` and update `vX.X` to the new version number
+    - Run `go run cmd/scripts/linkify_changelog.go CHANGELOG.md` to add links for all PRs
+    - Reset `CHANGELOG_PENDING.md`
+
+4. `git commit -am 'release v0.5.2'`
+
+5. `git push -u origin release-0.5.2`
 
 Merge the release commit into `master` via PR. Then, push the release tag up.