diff --git a/waku/v2/discv5/discover.go b/waku/v2/discv5/discover.go
index f862e7f5..493c502b 100644
--- a/waku/v2/discv5/discover.go
+++ b/waku/v2/discv5/discover.go
@@ -3,6 +3,7 @@ package discv5
 import (
 	"context"
 	"crypto/ecdsa"
+	"errors"
 	"math/rand"
 	"net"
 	"sync"
@@ -26,6 +27,7 @@ type DiscoveryV5 struct {
 	discovery.Discovery
 
 	params    *discV5Parameters
+	ctx       context.Context
 	host      host.Host
 	config    discover.Config
 	udpAddr   *net.UDPAddr
@@ -39,7 +41,9 @@ type DiscoveryV5 struct {
 
 	wg *sync.WaitGroup
 
-	peerCache peerCache
+	peerCache          peerCache
+	discoverCtx        context.Context
+	discoverCancelFunc context.CancelFunc
 }
 
 type peerCache struct {
@@ -95,7 +99,9 @@ func DefaultOptions() []DiscoveryV5Option {
 	}
 }
 
-func NewDiscoveryV5(host host.Host, priv *ecdsa.PrivateKey, localnode *enode.LocalNode, log *zap.Logger, opts ...DiscoveryV5Option) (*DiscoveryV5, error) {
+const MaxPeersToDiscover = 600
+
+func NewDiscoveryV5(ctx context.Context, host host.Host, priv *ecdsa.PrivateKey, localnode *enode.LocalNode, log *zap.Logger, opts ...DiscoveryV5Option) (*DiscoveryV5, error) {
 	params := new(discV5Parameters)
 	optList := DefaultOptions()
 	optList = append(optList, opts...)
@@ -111,6 +117,7 @@ func NewDiscoveryV5(host host.Host, priv *ecdsa.PrivateKey, localnode *enode.Loc
 	}
 
 	return &DiscoveryV5{
+		ctx:    ctx,
 		host:   host,
 		params: params,
 		NAT:    NAT,
@@ -194,6 +201,10 @@ func (d *DiscoveryV5) Start() error {
 		return err
 	}
 
+	// create cancellable
+	d.discoverCtx, d.discoverCancelFunc = context.WithCancel(d.ctx)
+	go d.runDiscoveryV5Loop()
+
 	return nil
 }
 
@@ -206,6 +217,7 @@ func (d *DiscoveryV5) Stop() {
 	}
 
 	close(d.quit)
+	d.discoverCancelFunc()
 
 	d.listener.Close()
 	d.listener = nil
@@ -279,7 +291,7 @@ func (d *DiscoveryV5) Advertise(ctx context.Context, ns string, opts ...discover
 	return 20 * time.Minute, nil
 }
 
-func (d *DiscoveryV5) iterate(ctx context.Context, iterator enode.Iterator, limit int, doneCh chan struct{}) {
+func (d *DiscoveryV5) iterate(iterator enode.Iterator, limit int, doneCh chan struct{}) {
 	defer d.wg.Done()
 
 	for {
@@ -287,7 +299,7 @@ func (d *DiscoveryV5) iterate(ctx context.Context, iterator enode.Iterator, limi
 			break
 		}
 
-		if ctx.Err() != nil {
+		if d.discoverCtx.Err() != nil {
 			break
 		}
 
@@ -308,6 +320,7 @@ func (d *DiscoveryV5) iterate(ctx context.Context, iterator enode.Iterator, limi
 			continue
 		}
 
+		d.peerCache.Lock()
 		for _, p := range peerAddrs {
 			d.peerCache.recs[p.ID] = PeerRecord{
 				expire: time.Now().Unix() + 3600, // Expires in 1hr
@@ -315,7 +328,7 @@ func (d *DiscoveryV5) iterate(ctx context.Context, iterator enode.Iterator, limi
 				Node:   *iterator.Node(),
 			}
 		}
-
+		d.peerCache.Unlock()
 	}
 
 	close(doneCh)
@@ -337,6 +350,25 @@ func (d *DiscoveryV5) removeExpiredPeers() int {
 	return newCacheSize
 }
 
+func (d *DiscoveryV5) runDiscoveryV5Loop() {
+	iterator := d.listener.RandomNodes()
+	iterator = enode.Filter(iterator, evaluateNode)
+	defer iterator.Close()
+
+	doneCh := make(chan struct{})
+
+	d.wg.Add(1)
+
+	go d.iterate(iterator, MaxPeersToDiscover, doneCh)
+
+	select {
+	case <-d.discoverCtx.Done():
+	case <-doneCh:
+	}
+
+	d.log.Warn("Discv5 loop stopped")
+}
+
 func (d *DiscoveryV5) FindNodes(ctx context.Context, topic string, opts ...discovery.Option) ([]PeerRecord, error) {
 	// Get options
 	var options discovery.Options
@@ -345,10 +377,13 @@ func (d *DiscoveryV5) FindNodes(ctx context.Context, topic string, opts ...disco
 		return nil, err
 	}
 
-	const maxLimit = 600
 	limit := options.Limit
-	if limit == 0 || limit > maxLimit {
-		limit = maxLimit
+	if limit == 0 || limit > MaxPeersToDiscover {
+		limit = MaxPeersToDiscover
+	}
+
+	if limit > MaxPeersToDiscover {
+		return nil, errors.New("limit should be less than allowed maximum")
 	}
 
 	// We are ignoring the topic. Future versions might use a map[string]*peerCache instead where the string represents the pubsub topic
@@ -356,28 +391,7 @@ func (d *DiscoveryV5) FindNodes(ctx context.Context, topic string, opts ...disco
 	d.peerCache.Lock()
 	defer d.peerCache.Unlock()
 
-	cacheSize := d.removeExpiredPeers()
-
-	// Discover new records if we don't have enough
-	if cacheSize < limit && d.listener != nil {
-		d.Lock()
-
-		iterator := d.listener.RandomNodes()
-		iterator = enode.Filter(iterator, evaluateNode)
-		defer iterator.Close()
-
-		doneCh := make(chan struct{})
-
-		d.wg.Add(1)
-		go d.iterate(ctx, iterator, limit, doneCh)
-
-		select {
-		case <-ctx.Done():
-		case <-doneCh:
-		}
-
-		d.Unlock()
-	}
+	d.removeExpiredPeers()
 
 	// Randomize and fill channel with available records
 	count := len(d.peerCache.recs)
diff --git a/waku/v2/discv5/discover_test.go b/waku/v2/discv5/discover_test.go
index cf20858b..d707da2a 100644
--- a/waku/v2/discv5/discover_test.go
+++ b/waku/v2/discv5/discover_test.go
@@ -106,7 +106,7 @@ func TestDiscV5(t *testing.T) {
 	ip1, _ := extractIP(host1.Addrs()[0])
 	l1, err := newLocalnode(prvKey1, ip1, udpPort1, utils.NewWakuEnrBitfield(true, true, true, true), nil, utils.Logger())
 	require.NoError(t, err)
-	d1, err := NewDiscoveryV5(host1, prvKey1, l1, utils.Logger(), WithUDPPort(udpPort1))
+	d1, err := NewDiscoveryV5(context.Background(), host1, prvKey1, l1, utils.Logger(), WithUDPPort(udpPort1))
 	require.NoError(t, err)
 
 	// H2
@@ -116,7 +116,7 @@ func TestDiscV5(t *testing.T) {
 	require.NoError(t, err)
 	l2, err := newLocalnode(prvKey2, ip2, udpPort2, utils.NewWakuEnrBitfield(true, true, true, true), nil, utils.Logger())
 	require.NoError(t, err)
-	d2, err := NewDiscoveryV5(host2, prvKey2, l2, utils.Logger(), WithUDPPort(udpPort2), WithBootnodes([]*enode.Node{d1.localnode.Node()}))
+	d2, err := NewDiscoveryV5(context.Background(), host2, prvKey2, l2, utils.Logger(), WithUDPPort(udpPort2), WithBootnodes([]*enode.Node{d1.localnode.Node()}))
 	require.NoError(t, err)
 
 	// H3
@@ -126,7 +126,7 @@ func TestDiscV5(t *testing.T) {
 	require.NoError(t, err)
 	l3, err := newLocalnode(prvKey3, ip3, udpPort3, utils.NewWakuEnrBitfield(true, true, true, true), nil, utils.Logger())
 	require.NoError(t, err)
-	d3, err := NewDiscoveryV5(host3, prvKey3, l3, utils.Logger(), WithUDPPort(udpPort3), WithBootnodes([]*enode.Node{d2.localnode.Node()}))
+	d3, err := NewDiscoveryV5(context.Background(), host3, prvKey3, l3, utils.Logger(), WithUDPPort(udpPort3), WithBootnodes([]*enode.Node{d2.localnode.Node()}))
 	require.NoError(t, err)
 
 	defer d1.Stop()
@@ -142,6 +142,8 @@ func TestDiscV5(t *testing.T) {
 	err = d3.Start()
 	require.NoError(t, err)
 
+	time.Sleep(3 * time.Second) // Wait for nodes to be discovered
+
 	ctx, cancel := context.WithTimeout(context.Background(), 10*time.Second)
 	defer cancel()
 
@@ -206,6 +208,8 @@ func TestDiscV5(t *testing.T) {
 	err = d3.Start()
 	require.NoError(t, err)
 
+	time.Sleep(3 * time.Second) // Wait for nodes to be discovered
+
 	foundHost1 = false
 	foundHost2 = false
 
diff --git a/waku/v2/node/wakunode2.go b/waku/v2/node/wakunode2.go
index d3691c81..d958dd59 100644
--- a/waku/v2/node/wakunode2.go
+++ b/waku/v2/node/wakunode2.go
@@ -489,7 +489,7 @@ func (w *WakuNode) mountDiscV5() error {
 	}
 
 	var err error
-	w.discoveryV5, err = discv5.NewDiscoveryV5(w.Host(), w.opts.privKey, w.localNode, w.log, discV5Options...)
+	w.discoveryV5, err = discv5.NewDiscoveryV5(w.ctx, w.Host(), w.opts.privKey, w.localNode, w.log, discV5Options...)
 
 	return err
 }
diff --git a/waku/v2/protocol/peer_exchange/waku_peer_exchange_test.go b/waku/v2/protocol/peer_exchange/waku_peer_exchange_test.go
index fbb257bf..e5a5be26 100644
--- a/waku/v2/protocol/peer_exchange/waku_peer_exchange_test.go
+++ b/waku/v2/protocol/peer_exchange/waku_peer_exchange_test.go
@@ -105,7 +105,7 @@ func TestRetrieveProvidePeerExchangePeers(t *testing.T) {
 	ip1, _ := extractIP(host1.Addrs()[0])
 	l1, err := newLocalnode(prvKey1, ip1, udpPort1, utils.NewWakuEnrBitfield(false, false, false, true), nil, utils.Logger())
 	require.NoError(t, err)
-	d1, err := discv5.NewDiscoveryV5(host1, prvKey1, l1, utils.Logger(), discv5.WithUDPPort(udpPort1))
+	d1, err := discv5.NewDiscoveryV5(context.Background(), host1, prvKey1, l1, utils.Logger(), discv5.WithUDPPort(udpPort1))
 	require.NoError(t, err)
 
 	// H2
@@ -115,7 +115,7 @@ func TestRetrieveProvidePeerExchangePeers(t *testing.T) {
 	require.NoError(t, err)
 	l2, err := newLocalnode(prvKey2, ip2, udpPort2, utils.NewWakuEnrBitfield(false, false, false, true), nil, utils.Logger())
 	require.NoError(t, err)
-	d2, err := discv5.NewDiscoveryV5(host2, prvKey2, l2, utils.Logger(), discv5.WithUDPPort(udpPort2), discv5.WithBootnodes([]*enode.Node{d1.Node()}))
+	d2, err := discv5.NewDiscoveryV5(context.Background(), host2, prvKey2, l2, utils.Logger(), discv5.WithUDPPort(udpPort2), discv5.WithBootnodes([]*enode.Node{d1.Node()}))
 	require.NoError(t, err)
 
 	// H3
@@ -133,6 +133,8 @@ func TestRetrieveProvidePeerExchangePeers(t *testing.T) {
 	err = d2.Start()
 	require.NoError(t, err)
 
+	time.Sleep(3 * time.Second) // Wait some time for peers to be discovered
+
 	// mount peer exchange
 	px1 := NewWakuPeerExchange(context.Background(), host1, d1, utils.Logger())
 	px3 := NewWakuPeerExchange(context.Background(), host3, nil, utils.Logger())
@@ -143,8 +145,6 @@ func TestRetrieveProvidePeerExchangePeers(t *testing.T) {
 	err = px3.Start()
 	require.NoError(t, err)
 
-	time.Sleep(3 * time.Second) // Give the algorithm some time to work its magic
-
 	host3.Peerstore().AddAddrs(host1.ID(), host1.Addrs(), peerstore.PermanentAddrTTL)
 	err = host3.Peerstore().AddProtocols(host1.ID(), string(PeerExchangeID_v20alpha1))
 	require.NoError(t, err)