diff --git a/README.md b/README.md
index 11cf66a..031aed7 100644
--- a/README.md
+++ b/README.md
@@ -7,10 +7,10 @@ for StartOS.
 
 Planned features:
 
-- Bitcoin transaction monitoring
-- Watch-only wallet support
-- BIP-329 label import/export
-- Transaction notifications with label reminders
+* Bitcoin transaction monitoring
+* Watch-only wallet support
+* BIP-329 label import/export
+* Transaction notifications with label reminders
 
 ## Status
 
@@ -18,10 +18,19 @@ Early development.
 
 Target platform:
 
-- StartOS 0.4.0.1
+* StartOS 0.4.0.1
+
+Current milestone:
+
+* StartOS service running with live Fulcrum (Electrum server) connectivity status
 
 ## Development
 
-Munin-bitcoin is currently in early development.
+Munin-bitcoin currently runs as a StartOS service with a web interface and
+backend status API.
 
-The first milestone is a working StartOS service container.
\ No newline at end of file
+Fulcrum is configured as a StartOS dependency, and Munin verifies the
+Electrum connection using the configured Fulcrum endpoint.
+
+Wallet configuration, persistent storage, BIP-329 support, transaction
+monitoring, and notifications are not yet implemented.