diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2ca0558..ab05bf4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,48 @@
 # Changelog
 
+## v0.5.0
+
+### Upgrade notes
+
+- **The Bash hook is retired.** Claude Code checks permission rules against the command a
+  PreToolUse hook returns, and the hook rewrote every Bash command to `secondwind exec -c '...'`
+  while answering "allow", so Bash deny rules stopped matching and prompts were skipped. `secondwind
+  hook` now passes every command through unchanged, `setup --hook` installs nothing, plain
+  `secondwind setup` removes a hook an earlier version installed, and `secondwind check` warns while
+  one is still there. Use the Claude Code mod instead (below).
+- **Offloading depends on where a block came from.** When a caller names the tool and command (MCP
+  `optimize` takes optional `tool` and `command`; `exec` uses its own), output that is usually read
+  in full, such as a large `cat` or `Read`, stays in view and only inline codecs apply. Callers that
+  name nothing behave as before.
+- **Figures read from recorded sessions drop.** The trace reader counted images and PDFs as base64
+  text and wrapped every tool result in JSON the model never saw. On the author's sessions that
+  made tool output look seven times larger than it is, so `cache-savings` and the audit report less.
+
+### Security
+
+- The retired Bash hook let Bash commands run without the user's deny rules or prompts (above).
+
+### Added
+
+- `secondwind eval` replays your recorded sessions through the optimizer and reports, per tool and
+  command, what was offloaded, how often the model later needed it, net tokens, and whether every
+  block came back intact. `--learn` fits reopen rates on half your sessions, replays the other half
+  with and without the gate, and writes `~/.secondwind/policy.json`; `--gate` and `--query` replay
+  with the gate or with your latest message as the query; `--blocks` writes one line per result.
+- A reopen policy per command class and size decides whether a block may be offloaded. The
+  built-in table comes from 1,491 real sessions; a learned `policy.json` replaces it. On held-out
+  sessions the learned gate cut reopens per session from 23.6 to 4.8, and no block of 138,209 came
+  back different from the original.
+- Claude Code mod 0.2.0: sends the command with each block, so a large `cat` stays in view, and
+  compresses from 512 bytes instead of 6 KB. For Bash on held-out sessions it saves 9.7% of all
+  tool output instead of 6.6%, with fewer extra turns. Tests now pin the pane's off, empty, win and
+  loss states.
+
+### Fixed
+
+- `optimize`'s `query` description no longer claims it helps text; it applies to JSON record
+  arrays.
+
 ## v0.4.0
 
 ### Upgrade notes
diff --git a/Cargo.lock b/Cargo.lock
index b79f21d..9edd94d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1351,7 +1351,7 @@ checksum = "94143f37725109f92c262ed2cf5e59bce7498c01bcc1502d7b9afe439a4e9f49"
 
 [[package]]
 name = "secondwind"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "axum",
  "base64 0.22.1",
@@ -1377,7 +1377,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-analyzers"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "secondwind-core",
  "serde",
@@ -1385,7 +1385,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-core"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "serde",
  "serde_json",
@@ -1393,7 +1393,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-ffi"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "secondwind-ledger",
  "secondwind-optimize",
@@ -1402,7 +1402,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-ledger"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "secondwind-core",
  "serde",
@@ -1411,7 +1411,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-optimize"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "blake3",
  "bpe-openai",
@@ -1429,7 +1429,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-redact"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "regex",
  "secondwind-analyzers",
@@ -1439,7 +1439,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-report"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "secondwind-analyzers",
  "secondwind-core",
@@ -1450,7 +1450,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-sources"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "secondwind-core",
  "serde",
@@ -1460,7 +1460,7 @@ dependencies = [
 
 [[package]]
 name = "secondwind-tap"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "secondwind-analyzers",
  "secondwind-core",
diff --git a/Cargo.toml b/Cargo.toml
index 455d8d6..0e4c36d 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -14,7 +14,7 @@ members = [
 ]
 
 [workspace.package]
-version = "0.4.0"
+version = "0.5.0"
 edition = "2024"
 license = "Apache-2.0"
 repository = "https://github.com/orchetron/secondwind"
diff --git a/bindings/node/package.json b/bindings/node/package.json
index 139a8db..1cebfff 100644
--- a/bindings/node/package.json
+++ b/bindings/node/package.json
@@ -1,6 +1,6 @@
 {
   "name": "secondwind",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "Lossless, provable, composable LLM context compression",
   "type": "module",
   "exports": {
@@ -32,11 +32,11 @@
     "koffi": "^3.1.1"
   },
   "optionalDependencies": {
-    "@orchetron/secondwind-darwin-arm64": "0.4.0",
-    "@orchetron/secondwind-darwin-x64": "0.4.0",
-    "@orchetron/secondwind-linux-x64": "0.4.0",
-    "@orchetron/secondwind-linux-arm64": "0.4.0",
-    "@orchetron/secondwind-win32-x64": "0.4.0"
+    "@orchetron/secondwind-darwin-arm64": "0.5.0",
+    "@orchetron/secondwind-darwin-x64": "0.5.0",
+    "@orchetron/secondwind-linux-x64": "0.5.0",
+    "@orchetron/secondwind-linux-arm64": "0.5.0",
+    "@orchetron/secondwind-win32-x64": "0.5.0"
   },
   "devDependencies": {
     "@ai-sdk/provider": "^4.0.3",
diff --git a/bindings/node/platforms/secondwind-darwin-arm64/package.json b/bindings/node/platforms/secondwind-darwin-arm64/package.json
index b07fe72..f4b4286 100644
--- a/bindings/node/platforms/secondwind-darwin-arm64/package.json
+++ b/bindings/node/platforms/secondwind-darwin-arm64/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@orchetron/secondwind-darwin-arm64",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "secondwind native library for darwin-arm64",
   "license": "Apache-2.0",
   "os": [
diff --git a/bindings/node/platforms/secondwind-darwin-x64/package.json b/bindings/node/platforms/secondwind-darwin-x64/package.json
index ad0016b..07ebcd2 100644
--- a/bindings/node/platforms/secondwind-darwin-x64/package.json
+++ b/bindings/node/platforms/secondwind-darwin-x64/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@orchetron/secondwind-darwin-x64",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "secondwind native library for darwin-x64",
   "license": "Apache-2.0",
   "os": [
diff --git a/bindings/node/platforms/secondwind-linux-arm64/package.json b/bindings/node/platforms/secondwind-linux-arm64/package.json
index c0cd654..f53865d 100644
--- a/bindings/node/platforms/secondwind-linux-arm64/package.json
+++ b/bindings/node/platforms/secondwind-linux-arm64/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@orchetron/secondwind-linux-arm64",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "secondwind native library for linux-arm64",
   "license": "Apache-2.0",
   "os": [
diff --git a/bindings/node/platforms/secondwind-linux-x64/package.json b/bindings/node/platforms/secondwind-linux-x64/package.json
index d92a7a8..598895a 100644
--- a/bindings/node/platforms/secondwind-linux-x64/package.json
+++ b/bindings/node/platforms/secondwind-linux-x64/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@orchetron/secondwind-linux-x64",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "secondwind native library for linux-x64",
   "license": "Apache-2.0",
   "os": [
diff --git a/bindings/node/platforms/secondwind-win32-x64/package.json b/bindings/node/platforms/secondwind-win32-x64/package.json
index d28a8ef..35c8344 100644
--- a/bindings/node/platforms/secondwind-win32-x64/package.json
+++ b/bindings/node/platforms/secondwind-win32-x64/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@orchetron/secondwind-win32-x64",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "secondwind native library for win32-x64",
   "license": "Apache-2.0",
   "os": [
diff --git a/bindings/python/pyproject.toml b/bindings/python/pyproject.toml
index 7b66cbb..0bc7cbf 100644
--- a/bindings/python/pyproject.toml
+++ b/bindings/python/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "setuptools.build_meta"
 
 [project]
 name = "secondwind"
-version = "0.4.0"
+version = "0.5.0"
 description = "Lossless, provable, composable LLM context compression"
 readme = "README.md"
 requires-python = ">=3.9"
diff --git a/integrations/claude-code/.claude-plugin/plugin.json b/integrations/claude-code/.claude-plugin/plugin.json
index 2107186..430743a 100644
--- a/integrations/claude-code/.claude-plugin/plugin.json
+++ b/integrations/claude-code/.claude-plugin/plugin.json
@@ -1,6 +1,6 @@
 {
   "name": "secondwind",
-  "version": "0.1.0",
+  "version": "0.2.0",
   "description": "Compress Bash output through secondwind, recover offloaded blocks, and watch net savings in a pane",
   "types": "./types/index.d.ts"
 }