diff --git a/README.md b/README.md
index e112f62..30f20d0 100644
--- a/README.md
+++ b/README.md
@@ -4,9 +4,9 @@ A proposed [WebAssembly System Interface](https://github.com/WebAssembly/WASI) A
 
 ### Current Phase
 
-wasi-cli is currently in [Phase 1].
+wasi-cli is currently in [Phase 2].
 
-[Phase 1]: https://github.com/WebAssembly/WASI/blob/42fe2a3ca159011b23099c3d10b5b1d9aff2140e/docs/Proposals.md#phase-1---feature-proposal-cg
+[Phase 2]: https://github.com/WebAssembly/WASI/blob/main/Proposals.md#phase-2---proposed-spec-text-available-cg--wg
 
 ### Champions