diff --git a/cmd/chantools/deletepayments.go b/cmd/chantools/deletepayments.go
index 6dd3c33..cdb9ef9 100644
--- a/cmd/chantools/deletepayments.go
+++ b/cmd/chantools/deletepayments.go
@@ -25,7 +25,7 @@ If only the failed payments should be deleted (and not the successful ones), the
 
 CAUTION: Running this command will make it impossible to use the channel DB
 with an older version of lnd. Downgrading is not possible and you'll need to
-run lnd v0.16.0-beta or later after using this command!'`,
+run lnd ` + lndVersion + ` or later after using this command!'`,
 		Example: `chantools deletepayments --failedonly \
 	--channeldb ~/.lnd/data/graph/mainnet/channel.db`,
 		RunE: cc.Execute,
diff --git a/cmd/chantools/dropchannelgraph.go b/cmd/chantools/dropchannelgraph.go
index 81d4d4f..6456f50 100644
--- a/cmd/chantools/dropchannelgraph.go
+++ b/cmd/chantools/dropchannelgraph.go
@@ -46,7 +46,7 @@ without removing any other data.
 
 CAUTION: Running this command will make it impossible to use the channel DB
 with an older version of lnd. Downgrading is not possible and you'll need to
-run lnd v0.16.0-beta or later after using this command!'`,
+run lnd ` + lndVersion + ` or later after using this command!'`,
 		Example: `chantools dropchannelgraph \
 	--channeldb ~/.lnd/data/graph/mainnet/channel.db \
 	--node_identity_key 03......
diff --git a/cmd/chantools/migratedb.go b/cmd/chantools/migratedb.go
index 37695e8..7730266 100644
--- a/cmd/chantools/migratedb.go
+++ b/cmd/chantools/migratedb.go
@@ -25,7 +25,7 @@ needs to read the database content.
 
 CAUTION: Running this command will make it impossible to use the channel DB
 with an older version of lnd. Downgrading is not possible and you'll need to
-run lnd v0.16.0-beta or later after using this command!'`,
+run lnd ` + lndVersion + ` or later after using this command!'`,
 		Example: `chantools migratedb \
 	--channeldb ~/.lnd/data/graph/mainnet/channel.db`,
 		RunE: cc.Execute,
diff --git a/cmd/chantools/removechannel.go b/cmd/chantools/removechannel.go
index dc8a942..63b450b 100644
--- a/cmd/chantools/removechannel.go
+++ b/cmd/chantools/removechannel.go
@@ -31,7 +31,7 @@ channel was never confirmed on chain!
 
 CAUTION: Running this command will make it impossible to use the channel DB
 with an older version of lnd. Downgrading is not possible and you'll need to
-run lnd v0.16.0-beta or later after using this command!`,
+run lnd ` + lndVersion + ` or later after using this command!`,
 		Example: `chantools removechannel \
 	--channeldb ~/.lnd/data/graph/mainnet/channel.db \
 	--channel 3149764effbe82718b280de425277e5e7b245a4573aa4a0203ac12cee1c37816:0`,
diff --git a/cmd/chantools/root.go b/cmd/chantools/root.go
index e94f103..c739675 100644
--- a/cmd/chantools/root.go
+++ b/cmd/chantools/root.go
@@ -34,6 +34,10 @@ const (
 	version = "0.11.3"
 	na      = "n/a"
 
+	// lndVersion is the current version of lnd that we support. This is
+	// shown in some commands that affect the database and its migrations.
+	lndVersion = "v0.16.0-beta"
+
 	Commit = ""
 )
 
diff --git a/go.mod b/go.mod
index 1960706..fe9d449 100644
--- a/go.mod
+++ b/go.mod
@@ -19,6 +19,10 @@ require (
 	github.com/hasura/go-graphql-client v0.9.1
 	github.com/lightninglabs/loop v0.23.0-beta
 	github.com/lightninglabs/pool v0.6.2-beta.0.20230329135228-c3bffb52df3a
+	// The current version of lnd we are compatible with, mostly affects the
+	// commands that touch the channel DB and has an impact on the DB schema.
+	// NOTE: When updating this version, make sure to also update the string in
+	// cmd/chantools/root.go.
 	github.com/lightningnetwork/lnd v0.16.0-beta
 	github.com/lightningnetwork/lnd/kvdb v1.4.1
 	github.com/lightningnetwork/lnd/queue v1.1.0