diff --git a/docs/changelogs/v0.31.0.md b/docs/changelogs/v0.31.0.md
new file mode 100644
index 00000000..2bc21f15
--- /dev/null
+++ b/docs/changelogs/v0.31.0.md
@@ -0,0 +1,68 @@
+This is the first release candidate for the upcoming Cozystack v0.31.0 release. Starting with a release candidate is one of multiple steps to implementing a new release policy that takes a more thorough approach to release stability.
+
+Cozystack 0.31.0 further advances GPU support, monitoring, and all-around convenience features.
+
+## New Features and Changes
+
+* [kubernetes] Introduce GPU support for tenant Kubernetes clusters. (@kvaps in https://github.com/cozystack/cozystack/pull/834)
+* Add VerticalPodAutoscaler to a few more components:
+    * [kubernetes] Kubernetes clusters in user tenants. (@klinch0 in https://github.com/cozystack/cozystack/pull/806)
+    * [platform] Cozystack dashboard. (@klinch0 in https://github.com/cozystack/cozystack/pull/828)
+    * [platform] Cozystack etcd-operator (@klinch0 in https://github.com/cozystack/cozystack/pull/850)
+* [kubevirt] Enable exporting VMs. (@kvaps in https://github.com/cozystack/cozystack/pull/808)
+* [cozystack-controller] Record the IP address pool and storage class in Workload objects. (@lllamnyp in https://github.com/cozystack/cozystack/pull/831)
+* Update the Cozystack release policy to include long-lived release branches and start with release candidates. Update CI workflows and docs accordingly.
+    * Use release branches `release-X.Y` for gathering and releasing fixes after initial `vX.Y.0` release. (@kvaps in https://github.com/cozystack/cozystack/pull/816)
+    * Automatically create release branches after initial `vX.Y.0` release is published. (@kvaps in https://github.com/cozystack/cozystack/pull/886)
+    * Introduce Release Candidate versions. Automate patch backporting by applying patches from pull requests labeled `[backport]` to the current release branch. (@kvaps in https://github.com/cozystack/cozystack/pull/841, @nickvolynkin in https://github.com/cozystack/cozystack/pull/890)
+    * Commit changes in release pipelines under `github-actions <github-actions@github.com>`. (@kvaps in https://github.com/cozystack/cozystack/pull/823)
+    * Describe the Cozystack release workflow. (@NickVolynkin in https://github.com/cozystack/cozystack/pull/817 and https://github.com/cozystack/cozystack/pull/897)
+
+## Fixes
+
+* [virtual-machine] Add GPU names to the virtual machine specifications. (@kvaps in https://github.com/cozystack/cozystack/pull/862)
+* [platform] Fix installing HelmReleases on initial setup. (@kvaps in https://github.com/cozystack/cozystack/pull/833)
+* [platform] Migration scripts update Kubernetes ConfigMap with the current stack version for improved version tracking. (@klinch0 in https://github.com/cozystack/cozystack/pull/840)
+* [platform] Reduce requested CPU and RAM for the `kamaji` provider. (@klinch0 in https://github.com/cozystack/cozystack/pull/825)
+* [platform] Improve the reconciliation loop for the Cozystack system HelmReleases logic. (@klinch0 in https://github.com/cozystack/cozystack/pull/809 and https://github.com/cozystack/cozystack/pull/810, @kvaps in https://github.com/cozystack/cozystack/pull/811)
+* [kubernetes] Update garbage collection of HelmReleases in tenant Kubernetes clusters. (@kvaps in https://github.com/cozystack/cozystack/pull/835)
+* [kubernetes] Fix merging `valuesOverride` for tenant clusters. (@kvaps in https://github.com/cozystack/cozystack/pull/879)
+* [kubernetes] Fix `ubuntu-container-disk` tag. (@kvaps in https://github.com/cozystack/cozystack/pull/887)
+* [kubernetes] Refactor Helm manifests for tenant Kubernetes clusters. (@kvaps in https://github.com/cozystack/cozystack/pull/866)
+* [tenant] Fix an issue with accessing external IPs of a cluster from the cluster itself. (@kvaps in https://github.com/cozystack/cozystack/pull/854)
+* [cluster-api] Remove the no longer necessary workaround for Kamaji. (@kvaps in https://github.com/cozystack/cozystack/pull/867)
+* [monitoring] Remove legacy label "POD" from the exclude filter in metrics. (@xy2 in https://github.com/cozystack/cozystack/pull/826)
+* [monitoring] Refactor management etcd monitoring config. Introduce a migration script for updating monitoring resources (`kube-rbac-proxy` daemonset). (@lllamnyp in https://github.com/cozystack/cozystack/pull/799 and https://github.com/cozystack/cozystack/pull/830)
+* [monitoring] Fix VerticalPodAutoscaler resource allocation for VMagent. (@klinch0 in https://github.com/cozystack/cozystack/pull/820)
+* [postgres] Remove duplicated `template` entry from backup manifest. (@etoshutka in https://github.com/cozystack/cozystack/pull/872)
+* [kube-ovn] Fix versions mapping in Makefile. (@kvaps in https://github.com/cozystack/cozystack/pull/883)
+* [dx] Automatically detect version for migrations in the installer.sh. (@kvaps in https://github.com/cozystack/cozystack/pull/837)
+* [e2e] Increase timeout durations for `capi` and `keycloak` to improve reliability during environment setup. (@kvaps in https://github.com/cozystack/cozystack/pull/858)
+* [e2e] Fix `device_ownership_from_security_context` CRI. (@dtrdnk in https://github.com/cozystack/cozystack/pull/896)
+* [ci] Improve the check for `versions_map` running on pull requests. (@kvaps and @klinch0 in https://github.com/cozystack/cozystack/pull/836, https://github.com/cozystack/cozystack/pull/842, and https://github.com/cozystack/cozystack/pull/845)
+* [ci] If the release step was skipped on a tag, skip tests as well. (@kvaps in https://github.com/cozystack/cozystack/pull/822)
+* [ci] Allow CI to cancel the previous job if a new one is scheduled. (@kvaps in https://github.com/cozystack/cozystack/pull/873)
+* [ci] Use the correct version name when uploading build assets to the release page. (@kvaps in https://github.com/cozystack/cozystack/pull/876)
+* [ci] Stop using `ok-to-test` label to trigger CI in pull requests. (@kvaps in https://github.com/cozystack/cozystack/pull/875)
+* [ci] Do not run tests in the release building pipeline. (@kvaps in https://github.com/cozystack/cozystack/pull/882)
+* [ci] Fix release branch creation. (@kvaps in https://github.com/cozystack/cozystack/pull/884)
+* [ci, dx] Reduce noise in the test logs by suppressing the `wget` progress bar. (@lllamnyp in https://github.com/cozystack/cozystack/pull/865)
+
+## Dependencies
+* Update Cilium to v1.17.3. (@kvaps in https://github.com/cozystack/cozystack/pull/848)
+* Update LINSTOR to v1.31.0. (@kvaps in https://github.com/cozystack/cozystack/pull/846)
+* Update Kube-OVN to v1.13.10. (@kvaps in https://github.com/cozystack/cozystack/pull/847)
+* Update tenant Kubernetes to v1.32. (@kvaps in https://github.com/cozystack/cozystack/pull/871)
+* Update flux-operator to 0.19.0. (@kingdonb in https://github.com/cozystack/cozystack/pull/880)
+* Update multiple Cluster API components. (@kvaps in https://github.com/cozystack/cozystack/pull/867)
+
+## Maintenance
+
+* Add @klinch0 to CODEOWNERS. (@kvaps in https://github.com/cozystack/cozystack/pull/838)
+
+## New Contributors
+
+* @etoshutka made their first contribution in https://github.com/cozystack/cozystack/pull/872
+* @dtrdnk made their first contribution in https://github.com/cozystack/cozystack/pull/896
+
+**Full Changelog**: https://github.com/cozystack/cozystack/compare/v0.30.0...v0.31.0-rc.1