diff --git a/.circleci/config.yml b/.circleci/config.yml
index f30535819b..d7bfb618a9 100644
--- a/.circleci/config.yml
+++ b/.circleci/config.yml
@@ -30,7 +30,7 @@ jobs:
           key: protocol-{{ .Environment.CIRCLE_SHA1 }}
       - run:
           name: Compile contracts
-          command: $(npm bin)/truffle compile
+          command: npm install && $(npm bin)/truffle compile
       - save_cache:
           key: protocol-completed-build-{{ .Environment.CIRCLE_SHA1 }}
           paths:
@@ -75,7 +75,7 @@ jobs:
       - checkout
       - run:
           name: Install Dependencies
-          command: apk add make git python g++ && npm install --quiet
+          command: apk add make git python g++ curl && npm install --quiet
       - run:
           name: Run coverage
           command: npm run coverage
diff --git a/contracts/ContractCreator.sol b/contracts/ContractCreator.sol
index 14502df836..05bcf42b66 100644
--- a/contracts/ContractCreator.sol
+++ b/contracts/ContractCreator.sol
@@ -1,4 +1,4 @@
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "./Registry.sol";
 
diff --git a/contracts/Derivative.sol b/contracts/Derivative.sol
index 0531cd8b2b..277f09a550 100644
--- a/contracts/Derivative.sol
+++ b/contracts/Derivative.sol
@@ -5,7 +5,7 @@
 
   TODO: Implement tax function
 */
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "openzeppelin-solidity/contracts/math/SafeMath.sol";
 import "./OracleInterface.sol";
@@ -52,7 +52,7 @@ contract Derivative {
     }
 
     struct ContractParty {
-        address accountAddress;
+        address payable accountAddress;
         int256 balance;
         bool hasConfirmedPrice;
     }
@@ -76,13 +76,13 @@ contract Derivative {
     int256 public npv;  // Net present value is measured in Wei
 
     constructor(
-        address _makerAddress,
-        address _takerAddress,
+        address payable _makerAddress,
+        address payable _takerAddress,
         address _oracleAddress,
         int256 _defaultPenalty,
         int256 _requiredMargin,
         uint expiry,
-        string _product,
+        string memory _product,
         uint _notional
     ) public payable {
         // Address information
@@ -361,13 +361,13 @@ contract Derivative {
 contract SimpleDerivative is Derivative {
 
     constructor(
-        address _ownerAddress,
-        address _counterpartyAddress,
+        address payable _ownerAddress,
+        address payable _counterpartyAddress,
         address _oracleAddress,
         int256 _defaultPenalty,
         int256 _requiredMargin,
         uint expiry,
-        string product,
+        string memory product,
         uint notional
     ) public payable Derivative(
         _ownerAddress,
@@ -397,11 +397,11 @@ contract DerivativeCreator is ContractCreator {
         ContractCreator(registryAddress, _oracleAddress) {} // solhint-disable-line no-empty-blocks
 
     function createDerivative(
-        address counterparty,
+        address payable counterparty,
         int256 defaultPenalty,
         int256 requiredMargin,
         uint expiry,
-        string product,
+        string calldata product,
         uint notional
     )
         external
diff --git a/contracts/Migrations.sol b/contracts/Migrations.sol
index c12737ba11..f91d756c48 100644
--- a/contracts/Migrations.sol
+++ b/contracts/Migrations.sol
@@ -1,4 +1,4 @@
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 
 contract Migrations {
diff --git a/contracts/OracleInterface.sol b/contracts/OracleInterface.sol
index 48c122735f..1771c1a1c6 100644
--- a/contracts/OracleInterface.sol
+++ b/contracts/OracleInterface.sol
@@ -2,7 +2,7 @@
   OracleInterface contract.
   The interface that contracts use to query verified and unverified price feeds.
 */
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 
 // This interface allows contracts to query verified and unverified prices from the VoteToken.
diff --git a/contracts/OracleMock.sol b/contracts/OracleMock.sol
index 03faa331f0..5a16d9e1f5 100644
--- a/contracts/OracleMock.sol
+++ b/contracts/OracleMock.sol
@@ -3,7 +3,7 @@
 
   Simple mock implementation of a Vote Token to be used by a derivative for querying price feeds.
 */
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "openzeppelin-solidity/contracts/math/SafeMath.sol";
 import "openzeppelin-solidity/contracts/ownership/Ownable.sol";
diff --git a/contracts/PriceTime.sol b/contracts/PriceTime.sol
index 64796d232e..3477556143 100644
--- a/contracts/PriceTime.sol
+++ b/contracts/PriceTime.sol
@@ -1,7 +1,7 @@
 /*
   PriceTime Library
 */
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "openzeppelin-solidity/contracts/math/SafeMath.sol";
 
diff --git a/contracts/Registry.sol b/contracts/Registry.sol
index cbb110fdf9..ffbe0502d1 100644
--- a/contracts/Registry.sol
+++ b/contracts/Registry.sol
@@ -1,4 +1,4 @@
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "openzeppelin-solidity/contracts/ownership/Ownable.sol";
 
diff --git a/contracts/Testable.sol b/contracts/Testable.sol
index ad5dc433c8..ea3391088c 100644
--- a/contracts/Testable.sol
+++ b/contracts/Testable.sol
@@ -4,7 +4,7 @@
   Base class that provides time overrides, but only if being run in test mode.
 */
 
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "openzeppelin-solidity/contracts/ownership/Ownable.sol";
 
diff --git a/contracts/TokenizedDerivative.sol b/contracts/TokenizedDerivative.sol
index 7512b7938f..f9c53766ac 100644
--- a/contracts/TokenizedDerivative.sol
+++ b/contracts/TokenizedDerivative.sol
@@ -3,7 +3,7 @@
 
   Implements a simplified version of tokenized Product/ETH Products.
 */
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 import "openzeppelin-solidity/contracts/math/SafeMath.sol";
 import "openzeppelin-solidity/contracts/token/ERC20/ERC20.sol";
@@ -71,7 +71,7 @@ contract TokenizedDerivative is ERC20 {
     }
 
     struct ContractParty {
-        address accountAddress;
+        address payable accountAddress;
         int256 balance;
         bool hasConfirmedPrice;
         uint marginRequirement; // Percentage of nav*10^18
@@ -118,7 +118,7 @@ contract TokenizedDerivative is ERC20 {
         uint deposit;
     }
 
-    Dispute public dispute;
+    Dispute public disputeInfo;
 
     // The information in the following struct is only valid if in the midst of a Default or Termination.
     struct Termination {
@@ -148,13 +148,13 @@ contract TokenizedDerivative is ERC20 {
     }
 
     constructor(
-        address _providerAddress,
-        address _investorAddress,
+        address payable _providerAddress,
+        address payable _investorAddress,
         address _oracleAddress,
         uint _defaultPenalty, // Percentage of nav*10^18
         uint _terminationFee, // Percentage of nav*10^18
         uint _providerRequiredMargin, // Percentage of nav*10^18
-        string _product,
+        string memory _product,
         uint _fixedYearlyFee, // Percentage of nav * 10^18
         uint _disputeDeposit, // Percentage of nav * 10^18
         address _returnCalculator,
@@ -249,8 +249,8 @@ contract TokenizedDerivative is ERC20 {
 
         uint initialSupply = totalSupply();
 
-        require(this.transferFrom(msg.sender, this, numTokens));
-        _burn(this, numTokens);
+        require(this.transferFrom(msg.sender, address(this), numTokens));
+        _burn(address(this), numTokens);
 
 
         int256 investorBalance = investor.balance;
@@ -312,9 +312,9 @@ contract TokenizedDerivative is ERC20 {
 
         state = State.Disputed;
         endTime = lastRemarginTime;
-        dispute.disputedNav = nav;
-        dispute.disputer = msg.sender;
-        dispute.deposit = requiredDeposit;
+        disputeInfo.disputedNav = nav;
+        disputeInfo.disputer = msg.sender;
+        disputeInfo.deposit = requiredDeposit;
 
         msg.sender.transfer(refund);
     }
@@ -343,9 +343,9 @@ contract TokenizedDerivative is ERC20 {
         require(startingState == State.Disputed || startingState == State.Expired || startingState == State.Defaulted);
         _settleVerifiedPrice();
         if (startingState == State.Disputed) {
-            (ContractParty storage disputer, ContractParty storage notDisputer) = _whoAmI(dispute.disputer);
-            int256 depositValue = int256(dispute.deposit);
-            if (nav == dispute.disputedNav) {
+            (ContractParty storage disputer, ContractParty storage notDisputer) = _whoAmI(disputeInfo.disputer);
+            int256 depositValue = int256(disputeInfo.deposit);
+            if (nav == disputeInfo.disputedNav) {
                 disputer.balance += depositValue;
             } else {
                 notDisputer.balance += depositValue;
@@ -539,7 +539,7 @@ contract TokenizedDerivative is ERC20 {
         if (state != State.Live) {
             didReduce = additionalAuthorizedNav != 0;
             additionalAuthorizedNav = 0;
-            return;
+            return didReduce;
         }
 
         int256 totalAuthorizedNav = currentNav + int256(additionalAuthorizedNav);
@@ -630,12 +630,12 @@ contract TokenizedDerivativeCreator is ContractCreator {
         ContractCreator(registryAddress, _oracleAddress) {} // solhint-disable-line no-empty-blocks
 
     function createTokenizedDerivative(
-        address provider,
-        address investor,
+        address payable provider,
+        address payable investor,
         uint defaultPenalty,
         uint terminationFee,
         uint providerRequiredMargin,
-        string product,
+        string calldata product,
         uint fixedYearlyFee,
         uint disputeDeposit,
         address returnCalculator,
diff --git a/contracts/Vote.sol b/contracts/Vote.sol
index e9b0b0bc9b..fb6cb7b54d 100644
--- a/contracts/Vote.sol
+++ b/contracts/Vote.sol
@@ -8,7 +8,7 @@
   * Allows users to vote yes/no on whether a price is accurate
 
 */
-pragma solidity >=0.4.24;
+pragma solidity ^0.5.0;
 
 pragma experimental ABIEncoderV2;
 
@@ -72,7 +72,7 @@ library Poll {
         }
     }
 
-    function _addProposal(Data storage self, string ipfsHash) internal {
+    function _addProposal(Data storage self, string memory ipfsHash) internal {
         uint idx = self.proposals.length++;
         self.proposals[idx].ipfsHash = ipfsHash;
     }
@@ -107,7 +107,7 @@ library VotePeriod {
         mapping(string => bool) ipfsHashSet;
     }
 
-    function _proposeFeed(Data storage self, string ipfsHash) internal {
+    function _proposeFeed(Data storage self, string memory ipfsHash) internal {
         require(!self.ipfsHashSet[ipfsHash]);
         self.ipfsHashSet[ipfsHash] = true;
         self.runoffPoll._addProposal(ipfsHash);
@@ -210,7 +210,7 @@ contract VoteCoin is ERC20, VoteInterface, OracleInterface, Testable {
 
     PeriodTiming[5] private periodTimings;
 
-    constructor(string _product, uint _priceInterval, bool isTest) public Testable(isTest) {
+    constructor(string memory _product, uint _priceInterval, bool isTest) public Testable(isTest) {
         _mint(msg.sender, 10000);
         product = _product;
         priceInterval = _priceInterval;
@@ -269,20 +269,20 @@ contract VoteCoin is ERC20, VoteInterface, OracleInterface, Testable {
         _getCurrentVotePeriod()._revealVote(voteOption, salt, balanceOf(msg.sender), period);
     }
 
-    function proposeFeed(string ipfsHash) public {
+    function proposeFeed(string memory ipfsHash) public {
         checkTimeAndUpdateState();
         require(period == VotePeriod.PeriodType.Commit || period == VotePeriod.PeriodType.Reveal);
 
         _getCurrentVotePeriod()._proposeFeed(ipfsHash);
     }
 
-    function addUnverifiedPrice(PriceTime.Data priceTime) public {
+    function addUnverifiedPrice(PriceTime.Data memory priceTime) public {
         PriceTime.Data[] memory priceTimes = new PriceTime.Data[](1);
         priceTimes[0] = priceTime;
         addUnverifiedPrices(priceTimes);
     }
 
-    function getProposals() public view returns (Proposal.Data[] proposals) {
+    function getProposals() public view returns (Proposal.Data[] memory proposals) {
         uint time = getCurrentTime();
         uint computedStartTime = _getStartOfPeriod(time);
 
@@ -307,23 +307,23 @@ contract VoteCoin is ERC20, VoteInterface, OracleInterface, Testable {
         }
     }
 
-    function getCurrentPeriodType() public view returns (string periodType) {
+    function getCurrentPeriodType() public view returns (string memory periodType) {
         uint currentTime = getCurrentTime();
         return _getStringPeriodType(_getPeriodType(_getStartOfPeriod(currentTime), currentTime));
     }
 
-    function getProduct() public view returns (string _product) {
+    function getProduct() public view returns (string memory _product) {
         return product;
     }
 
-    function getDefaultProposalPrices() public view returns (PriceTime.Data[] prices) {
+    function getDefaultProposalPrices() public view returns (PriceTime.Data[] memory prices) {
         // TODO(mrice32): we may want to subtract some time offset to ensure all unverifiedPrices being voted on are
         // in before the voting period starts.
         // Note: this will fail if the entire voting period of prices previous do not exist.
         VotePeriod.Data storage votePeriod = _getCurrentVotePeriod();
         (uint startTime, uint endTime) = votePeriod._getPricePeriod(totalVotingDuration);
         if (unverifiedPrices.length == 0 || startTime < unverifiedPrices[0].time) {
-            return;
+            return prices;
         }
         uint startIndex = unverifiedPrices._getIndex(startTime, priceInterval);
 
@@ -469,7 +469,11 @@ contract VoteCoin is ERC20, VoteInterface, OracleInterface, Testable {
         return timestamp.sub(epochOffset).div(totalVotingDuration).mul(totalVotingDuration).add(epochOffset);
     }
 
-    function _getStringPeriodType(VotePeriod.PeriodType periodType) private pure returns (string stringPeriodType) {
+    function _getStringPeriodType(VotePeriod.PeriodType periodType)
+        private
+        pure
+        returns (string memory stringPeriodType)
+    {
         if (periodType == VotePeriod.PeriodType.Commit) {
             return "commit";
         } else if (periodType == VotePeriod.PeriodType.Reveal) {
@@ -488,7 +492,7 @@ contract VoteCoin is ERC20, VoteInterface, OracleInterface, Testable {
     function _initPeriodTiming(uint startOffset, uint duration, VotePeriod.PeriodType periodType)
         private
         view
-        returns (PeriodTiming periodTiming, uint nextStartOffset)
+        returns (PeriodTiming memory periodTiming, uint nextStartOffset)
     {
         periodTiming.startOffset = startOffset;
         periodTiming.endOffset = startOffset.add(duration);
diff --git a/contracts/VoteInterface.sol b/contracts/VoteInterface.sol
index 965bc739a6..de468fc4ec 100644
--- a/contracts/VoteInterface.sol
+++ b/contracts/VoteInterface.sol
@@ -39,16 +39,16 @@ contract VoteInterface {
     function getCurrentCommitRevealPeriods() public view returns (Period[] memory periods);
 
     // Returns the current period type ("commit", "reveal", or "none").
-    function getCurrentPeriodType() public view returns (string periodType);
+    function getCurrentPeriodType() public view returns (string memory periodType);
 
     // Gets the product that the price votes apply to.
-    function getProduct() public view returns (string product);
+    function getProduct() public view returns (string memory product);
 
     // Gets the runoff/alternative proposals for the current period.
-    function getProposals() public view returns (Proposal.Data[] proposals);
+    function getProposals() public view returns (Proposal.Data[] memory proposals);
 
     // Gets the default proposal (option 1 during the primary vote period) for the current period.
-    function getDefaultProposalPrices() public view returns (PriceTime.Data[] defaultProposal);
+    function getDefaultProposalPrices() public view returns (PriceTime.Data[] memory defaultProposal);
 
     // Gets the default proposal (option 1 during the primary vote period) price for a particular time during the
     // current period.
diff --git a/package.json b/package.json
index 7591d9c1c8..713125f233 100644
--- a/package.json
+++ b/package.json
@@ -5,7 +5,8 @@
   "scripts": {
     "dev": "webpack-dev-server",
     "prettier": "prettier --write 'test/**/*.js' 'migrations/*.js *.js'",
-    "coverage": "$(npm bin)/solidity-coverage"
+    "//": "comment on the below script - we can get rid of the curl below once solidity-parser merges PR #18",
+    "coverage": "curl https://raw.githubusercontent.com/maxsam4/solidity-parser/solidity-0.5/build/parser.js > node_modules/solidity-parser-sc/build/parser.js && $(npm bin)/solidity-coverage"
   },
   "author": "UMA Team",
   "license": "MIT",
@@ -31,16 +32,16 @@
     "html-webpack-plugin": "^3.2.0",
     "json-loader": "^0.5.7",
     "node-sass": "^4.9.0",
-    "openzeppelin-solidity": "^2.0.0-rc.1",
+    "openzeppelin-solidity": "2.1.0-rc.2",
     "prettier": "^1.14.3",
     "sass-loader": "^7.0.3",
-    "solhint": "^1.3.0",
+    "solhint": "^1.5.0",
     "solidity-coverage": "^0.5.11",
     "source-map-support": "^0.5.3",
     "style-loader": "^0.21.0",
-    "truffle": "^5.0.0-beta.2",
-    "truffle-contract": "^4.0.0-beta.2",
-    "web3": "^1.0.0-beta.36",
+    "truffle": "^5.0.0",
+    "truffle-contract": "^4.0.0",
+    "web3": "^1.0.0-beta.37",
     "webpack": "^4.12.0",
     "webpack-cli": "^3.0.6",
     "webpack-dev-server": "^3.1.4"
@@ -49,6 +50,6 @@
     "ganache-cli": "^6.1.8",
     "js-sha256": "^0.9.0",
     "node-fetch": "^2.3.0",
-    "truffle-hdwallet-provider": "^1.0.0-web3one.2"
+    "truffle-hdwallet-provider": "^1.0.0-web3one.5"
   }
 }
diff --git a/provider/package.json b/provider/package.json
index e43444702f..e04826d110 100644
--- a/provider/package.json
+++ b/provider/package.json
@@ -12,9 +12,9 @@
     "react-dom": "^16.5.2",
     "react-scripts": "1.1.5",
     "recharts": "^1.3.1",
-    "truffle": "^5.0.0-beta.2",
-    "truffle-contract": "^3.0.6",
-    "web3": "^1.0.0-beta.36"
+    "truffle": "^5.0.0",
+    "truffle-contract": "^3.0.7",
+    "web3": "^1.0.0-beta.37"
   },
   "scripts": {
     "start": "react-scripts start",
diff --git a/trader/package.json b/trader/package.json
index 8a7c3aecec..12b5c87686 100644
--- a/trader/package.json
+++ b/trader/package.json
@@ -10,9 +10,9 @@
     "react-dom": "^16.5.2",
     "react-scripts": "1.1.5",
     "recharts": "^1.3.1",
-    "truffle": "^5.0.0-beta.2",
-    "truffle-contract": "^4.0.0-beta.2",
-    "web3": "^1.0.0-beta.36"
+    "truffle": "^5.0.0",
+    "truffle-contract": "^4.0.0",
+    "web3": "^1.0.0-beta.37"
   },
   "scripts": {
     "start": "react-scripts start",
diff --git a/truffle.js b/truffle.js
index 418bbaf1e3..670eaa26ee 100644
--- a/truffle.js
+++ b/truffle.js
@@ -57,10 +57,5 @@ module.exports = {
       gas: 6720000,
       gasPrice: 20000000000,
     }
-  },
-  compilers: {
-    solc: {
-      version: "0.4.25"
-    }
   }
 };
diff --git a/voter/package.json b/voter/package.json
index 7ba5397e5d..a268839413 100644
--- a/voter/package.json
+++ b/voter/package.json
@@ -10,9 +10,9 @@
     "react-dom": "^16.5.2",
     "react-scripts": "1.1.5",
     "recharts": "^1.3.1",
-    "truffle": "^5.0.0-beta.2",
-    "truffle-contract": "^4.0.0-beta.2",
-    "web3": "^1.0.0-beta.36"
+    "truffle": "^5.0.0",
+    "truffle-contract": "^4.0.0",
+    "web3": "^1.0.0-beta.37"
   },
   "scripts": {
     "start": "react-scripts start",