diff --git a/.gitmodules b/.gitmodules
index 0365531bf..fb723efb9 100644
--- a/.gitmodules
+++ b/.gitmodules
@@ -12,7 +12,7 @@
 	path = vendor/nim-libp2p
 	url = https://github.com/status-im/nim-libp2p.git
 	ignore = dirty
-	branch = master
+	branch = unstable
 [submodule "vendor/nim-stew"]
 	path = vendor/nim-stew
 	url = https://github.com/status-im/nim-stew.git
diff --git a/tests/all_tests_v2.nim b/tests/all_tests_v2.nim
index 083fc7b0c..adbc9dc78 100644
--- a/tests/all_tests_v2.nim
+++ b/tests/all_tests_v2.nim
@@ -10,5 +10,6 @@ import
   ./v2/test_waku_swap,
   ./v2/test_message_store,
   ./v2/test_jsonrpc_waku,
+  ./v2/test_peer_manager,
   ./v2/test_web3 # will remove it when rln-relay tests get added
   # TODO ./v2/test_waku_rln_relay
diff --git a/tests/v2/test_peer_manager.nim b/tests/v2/test_peer_manager.nim
new file mode 100644
index 000000000..57c06e45b
--- /dev/null
+++ b/tests/v2/test_peer_manager.nim
@@ -0,0 +1,48 @@
+import
+  std/[unittest, options, sets, tables, sequtils],
+  stew/shims/net as stewNet,
+  json_rpc/[rpcserver, rpcclient],
+  eth/[keys, rlp], eth/common/eth_types,
+  libp2p/[standard_setup, switch, multiaddress],
+  libp2p/protobuf/minprotobuf,
+  libp2p/stream/[bufferstream, connection],
+  libp2p/crypto/crypto,
+  libp2p/protocols/pubsub/pubsub,
+  libp2p/protocols/pubsub/rpc/message,
+  ../../waku/v2/node/wakunode2,
+  ../../waku/v2/node/peer_manager,
+  ../../waku/v2/protocol/waku_relay,
+  ../test_helpers
+
+procSuite "Peer Manager":
+  asyncTest "Peer dialing":
+    let
+      nodeKey1 = crypto.PrivateKey.random(Secp256k1, rng[])[]
+      node1 = WakuNode.init(nodeKey1, ValidIpAddress.init("0.0.0.0"),
+        Port(60000))
+      nodeKey2 = crypto.PrivateKey.random(Secp256k1, rng[])[]
+      node2 = WakuNode.init(nodeKey2, ValidIpAddress.init("0.0.0.0"),
+        Port(60002))
+      peerInfo2 = node2.peerInfo
+    
+    await allFutures([node1.start(), node2.start()])
+
+    node1.mountRelay()
+    node2.mountRelay()
+
+    # Dial node2 from node1
+    let conn = await node1.peerManager.dialPeer(peerInfo2, WakuRelayCodec)
+
+    # Check connection
+    check:
+      conn.activity
+      conn.peerInfo.peerId == peerInfo2.peerId
+    
+    # Check that node2 is being managed in node1
+    check:
+      node1.peerManager.peers().anyIt(it.peerId == peerInfo2.peerId)
+
+    # Check connectedness
+    check:
+      node1.peerManager.connectedness(peerInfo2.peerId)
+
diff --git a/vendor/nim-libp2p b/vendor/nim-libp2p
index 5aebf0990..090ea91cb 160000
--- a/vendor/nim-libp2p
+++ b/vendor/nim-libp2p
@@ -1 +1 @@
-Subproject commit 5aebf0990e5315a0349e2414e7bc11da96f703bc
+Subproject commit 090ea91cb06ac6e35fd1401c2214871b24a77363
diff --git a/waku/v2/node/peer_manager.nim b/waku/v2/node/peer_manager.nim
new file mode 100644
index 000000000..ccad7d3fb
--- /dev/null
+++ b/waku/v2/node/peer_manager.nim
@@ -0,0 +1,67 @@
+{.push raises: [Defect, Exception].}
+
+import
+  chronos, chronicles,
+  libp2p/standard_setup,
+  libp2p/peerstore
+
+type
+  PeerManager* = ref object of RootObj
+    switch*: Switch
+    peerStore*: PeerStore
+
+proc new*(T: type PeerManager, switch: Switch): PeerManager =
+  T(switch: switch,
+    peerStore: PeerStore.new())
+
+####################
+# Dialer interface #
+####################
+
+proc dialPeer*(pm: PeerManager, peerInfo: PeerInfo, proto: string): Future[Connection] {.async.} =
+  # Dial a given peer and add it to the list of known peers
+  # @TODO check peer validity, duplicates and score before continuing. Limit number of peers to be managed.
+  
+  # First add dialed peer info to peer store...
+
+  debug "Adding dialed peer to manager", peerId = peerInfo.peerId, addr = peerInfo.addrs[0], proto = proto
+  
+  # ...known addresses
+  for multiaddr in peerInfo.addrs:
+    pm.peerStore.addressBook.add(peerInfo.peerId, multiaddr)
+  
+  # ...public key
+  var publicKey: PublicKey
+  discard peerInfo.peerId.extractPublicKey(publicKey)
+
+  pm.peerStore.keyBook.set(peerInfo.peerId, publicKey)
+
+  # ...associated protocols
+  pm.peerStore.protoBook.add(peerInfo.peerId, proto)
+
+  info "Dialing peer from manager", wireAddr = peerInfo.addrs[0], peerId = peerInfo.peerId
+
+  # Dial Peer
+  # @TODO Keep track of conn and connected state in peer store
+  return await pm.switch.dial(peerInfo.peerId, peerInfo.addrs, proto)
+
+#####################
+# Manager interface #
+#####################
+
+proc peers*(pm: PeerManager): seq[StoredInfo] =
+  # Return the known info for all peers
+  pm.peerStore.peers()
+
+proc connectedness*(pm: PeerManager, peerId: PeerId): bool =
+  # Return the connection state of the given, managed peer
+  # @TODO the PeerManager should keep and update local connectedness state for peers, redial on disconnect, etc.
+  # @TODO richer return than just bool, e.g. add enum "CanConnect", "CannotConnect", etc. based on recent connection attempts
+
+  let storedInfo = pm.peerStore.get(peerId)
+
+  if (storedInfo == StoredInfo()):
+    # Peer is not managed, therefore not connected
+    return false
+  else:
+    pm.switch.isConnected(peerId)
diff --git a/waku/v2/node/wakunode2.nim b/waku/v2/node/wakunode2.nim
index 3498c27e1..9485c7a00 100644
--- a/waku/v2/node/wakunode2.nim
+++ b/waku/v2/node/wakunode2.nim
@@ -8,7 +8,6 @@ import
   libp2p/protocols/protocol,
   # NOTE For TopicHandler, solve with exports?
   libp2p/protocols/pubsub/pubsub,
-  libp2p/peerinfo,
   libp2p/standard_setup,
   ../protocol/[waku_relay, message_notifier],
   ../protocol/waku_store/waku_store,
@@ -16,7 +15,8 @@ import
   ../protocol/waku_filter/waku_filter,
   ../utils/peers,
   ./message_store/message_store,
-  ../utils/requests
+  ../utils/requests,
+  ./peer_manager
 
 declarePublicCounter waku_node_messages, "number of messages received", ["type"]
 declarePublicGauge waku_node_filters, "number of content filter subscriptions"
@@ -45,6 +45,7 @@ type
 
   # NOTE based on Eth2Node in NBC eth2_network.nim
   WakuNode* = ref object of RootObj
+    peerManager*: PeerManager
     switch*: Switch
     wakuRelay*: WakuRelay
     wakuStore*: WakuStore
@@ -130,6 +131,7 @@ proc init*(T: type WakuNode, nodeKey: crypto.PrivateKey,
   #    triggerSelf = true, sign = false,
   #    verifySignature = false).PubSub
   result = WakuNode(
+    peerManager: PeerManager.new(switch),
     switch: switch,
     rng: rng,
     peerInfo: peerInfo,
@@ -344,11 +346,8 @@ proc dialPeer*(n: WakuNode, address: string) {.async.} =
 
   info "Dialing peer", wireAddr = remotePeer.addrs[0], peerId = remotePeer.peerId
   # NOTE This is dialing on WakuRelay protocol specifically
-  # TODO Keep track of conn and connected state somewhere (WakuRelay?)
-  #p.conn = await p.switch.dial(remotePeer, WakuRelayCodec)
-  #p.connected = true
-  discard await n.switch.dial(remotePeer.peerId, remotePeer.addrs, WakuRelayCodec)
-  info "Post switch dial"
+  discard await n.peerManager.dialPeer(remotePeer, WakuRelayCodec)
+  info "Post peerManager dial"
 
 proc setStorePeer*(n: WakuNode, address: string) =
   info "dialPeer", address = address
@@ -381,7 +380,7 @@ proc connectToNodes*(n: WakuNode, nodes: seq[string]) {.async.} =
 proc connectToNodes*(n: WakuNode, nodes: seq[PeerInfo]) {.async.} =
   for peerInfo in nodes:
     info "connectToNodes", peer = peerInfo
-    discard await n.switch.dial(peerInfo.peerId, peerInfo.addrs, WakuRelayCodec)
+    discard await n.peerManager.dialPeer(peerInfo, WakuRelayCodec)
 
   # The issue seems to be around peers not being fully connected when
   # trying to subscribe. So what we do is sleep to guarantee nodes are