diff --git a/.github/actions/destroy-feature-environment/action.yml b/.github/actions/delete-feature-environment/action.yml
similarity index 87%
rename from .github/actions/destroy-feature-environment/action.yml
rename to .github/actions/delete-feature-environment/action.yml
index 9e744eaaf4..6aa7997d16 100644
--- a/.github/actions/destroy-feature-environment/action.yml
+++ b/.github/actions/delete-feature-environment/action.yml
@@ -19,13 +19,13 @@ inputs:
 outputs:
   deployment-name:
     description: 'Output with a deployment name for working with deployments'
-    value: ${{ steps.get_branch.outputs.branch_name }}
+    value: ${{ steps.get-ref-properties.outputs.branch-name-flattened }}
 runs:
   using: "composite"
   steps:
     - name: Get branch name and commit SHA
-      id: get_branch
-      uses: ./.github/actions/get-branch
+      id: get-ref-properties
+      uses: ./.github/actions/get-ref-properties
 
     - name: Checkout aleph-apps repo
       uses: actions/checkout@v3
@@ -47,7 +47,7 @@ runs:
     - name: Destroy feature branch
       shell: bash
       env:
-        APP_NAME: fe-${{ steps.get_branch.outputs.branch_appname }}
+        APP_NAME: fe-${{ steps.get-ref-properties.outputs.branch-name-for-argo }}
       run: |
         ALEPH_PATH=$(pwd)
 
@@ -57,7 +57,7 @@ runs:
     - name: Commit deletion of the feature environment.
       uses: EndBug/add-and-commit@v9.1.1
       env:
-        APP_NAME: fe-${{ steps.get_branch.outputs.branch_appname }}
+        APP_NAME: fe-${{ steps.get-ref-properties.outputs.branch-name-for-argo }}
       with:
         author_name: AlephZero Automation
         author_email: alephzero@10clouds.com
@@ -83,7 +83,7 @@ runs:
     - name: Clean S3 storage
       shell: bash
       env:
-        BRANCH_NAME: ${{ steps.get_branch.outputs.branch_name }}
+        BRANCH_NAME: ${{ steps.get-ref-properties.outputs.branch-name-flattened }}
       run: |
         aws s3 rm --recursive \
           s3://fe-alephzero-devnet-eu-central-1-keys-bucket/fe-${{ env.BRANCH_NAME }}
diff --git a/.github/actions/get-ref-properties/action.yml b/.github/actions/get-ref-properties/action.yml
index 42c87dca68..043f361849 100644
--- a/.github/actions/get-ref-properties/action.yml
+++ b/.github/actions/get-ref-properties/action.yml
@@ -12,6 +12,9 @@ outputs:
   branch-name-flattened:
     description: Branch name with / (slash) replaced with - (hyphen)
     value: ${{ steps.branch.outputs.name-flattened }}
+  branch-name-for-argo:
+    description: Branch name that matches [a-z0-9-.]+ for ArgoCD app name
+    value: ${{ steps.branch.outputs.name-for-argo }}
   tag:
     description: Tag name
     value: ${{ steps.tag.outputs.name }}
@@ -42,6 +45,8 @@ runs:
       run: |
         echo name=$(echo ${HEAD_REF#refs/heads/}) >> $GITHUB_OUTPUT
         echo name-flattened=$(echo ${HEAD_REF#refs/heads/} | tr / -) >> $GITHUB_OUTPUT
+        echo name-for-argo=$(echo ${HEAD_REF#refs/heads/} \
+          | tr / - | tr '[:upper:]' '[:lower:]' | tr -c '[a-z0-9-.]' '-') >> $GITHUB_OUTPUT
 
     - name: Get commit properties
       id: commit
diff --git a/.github/actions/install-rust-toolchain/action.yml b/.github/actions/install-rust-toolchain/action.yml
new file mode 100644
index 0000000000..d3f580ebd7
--- /dev/null
+++ b/.github/actions/install-rust-toolchain/action.yml
@@ -0,0 +1,91 @@
+---
+name: Install rust toolchain
+description: |
+  Parses rust-toolchain.toml file and installs rust toolchain based on its contents:
+    * channel, e.g nightly-2022-10-30
+    * list of targets, e.g. ["wasm32-unknown-unknown"]
+    * list of components, e.g. ["clippy", "rustfmt"]
+  Also, this action contains set of inputs that can override any of the above.
+  Existence of rust-toolchain.toml file is not mandatory, yet channel is then required to be
+  passed as an input.
+inputs:
+  channel:
+    description: |
+      Toolchain channel. It's required only when rust-toolchain.toml file does not specify it.
+    required: false
+  targets:
+    description: Optional. List of targets to install with the given channel.
+    required: false
+  components:
+    description: Optional. List of cargo components to install.
+    required: false
+
+runs:
+  using: composite
+  steps:
+    # This step needs to be extracted either to docker image or to setup of self-hosted runner
+    - name: Install rustup
+      shell: bash
+      run: |
+        if ! command -v rustup &>/dev/null; then
+          curl --proto '=https' --tlsv1.2 --retry 10 --retry-connrefused -fsSL \
+            "https://sh.rustup.rs" | sh -s -- --default-toolchain none -y
+          echo "${CARGO_HOME:-$HOME/.cargo}/bin" >> $GITHUB_PATH
+        fi
+
+    - name: Read channel from rust-toolchain.toml
+      id: toolchain-channel
+      uses: SebRollen/toml-action@v1.0.2
+      with:
+        file: 'rust-toolchain.toml'
+        field: 'toolchain.channel'
+
+    - name: Read components from rust-toolchain.toml
+      id: toolchain-components
+      uses: SebRollen/toml-action@v1.0.2
+      with:
+        file: 'rust-toolchain.toml'
+        field: 'toolchain.components'
+
+    - name: Read targets from rust-toolchain.toml
+      id: toolchain-targets
+      uses: SebRollen/toml-action@v1.0.2
+      with:
+        file: 'rust-toolchain.toml'
+        field: 'toolchain.targets'
+
+    - name: Install rust toolchain
+      id: install-rust-toolchain
+      shell: bash
+      env:
+        CHANNEL: ${{ inputs.channel || steps.toolchain-channel.outputs.value }}
+      run: |
+        if [[ -z "${{  steps.toolchain-channel.outputs.value }}" ]]; then
+          echo "Could not find value for toolchain.channel in rust-toolchain.toml!"
+          exit 1
+        fi
+        rustup toolchain install ${{ env.CHANNEL }}
+        echo "channel=${{ env.CHANNEL }}" >> $GITHUB_OUTPUT
+
+    - name: Add components (optional)
+      if: inputs.components != '' || steps.toolchain-components.outputs.value != ''
+      shell: bash
+      env:
+        COMPONENTS: ${{ inputs.components || steps.toolchain-components.outputs.value }}
+      run: |
+        components=$(echo ${{ env.COMPONENTS }} | tr -d '[]' | sed 's/,/ /g')
+        for component in $components; do
+          rustup component add $component
+        done
+
+    - name: Add targets (optional)
+      if: inputs.targets != '' || steps.toolchain-targets.outputs.value != ''
+      shell: bash
+      env:
+        TARGETS: ${{ inputs.targets || steps.toolchain-targets.outputs.value }}
+      run: |
+        targets=$(echo ${{ env.TARGETS }} | tr -d '[]' | sed 's/,/ /g')
+        for target in $targets; do
+          rustup target add $target \
+          --toolchain ${{ steps.install-rust-toolchain.outputs.channel }}
+        done
diff --git a/.github/workflows/_build-liminal-node.yml b/.github/workflows/_build-liminal-node.yml
index 40be13f2c5..1242734695 100644
--- a/.github/workflows/_build-liminal-node.yml
+++ b/.github/workflows/_build-liminal-node.yml
@@ -17,10 +17,9 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
-
-      - name: Install WASM target
-        run: rustup target add wasm32-unknown-unknown
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
 
       - name: Build test binary and runtime
         run: |
diff --git a/.github/workflows/_build-production-node-and-e2e-client-image.yml b/.github/workflows/_build-production-node-and-e2e-client-image.yml
index 95179c949e..c9195e4a84 100644
--- a/.github/workflows/_build-production-node-and-e2e-client-image.yml
+++ b/.github/workflows/_build-production-node-and-e2e-client-image.yml
@@ -41,8 +41,8 @@ jobs:
           if-no-files-found: error
           retention-days: 7
 
-      - name: Install Rust Toolchain
-        uses: actions-rs/toolchain@v1
+      - name: Install Rust toolchain
+        uses: ./.github/actions/install-rust-toolchain
 
       - name: Build binary and docker image
         run: |
diff --git a/.github/workflows/_build-production-node-and-runtime.yml b/.github/workflows/_build-production-node-and-runtime.yml
index c72c7e1d0a..3772d3cb0e 100644
--- a/.github/workflows/_build-production-node-and-runtime.yml
+++ b/.github/workflows/_build-production-node-and-runtime.yml
@@ -25,10 +25,9 @@ jobs:
         uses: ./.github/actions/get-ref-properties
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
-
-      - name: Install WASM target
-        run: rustup target add wasm32-unknown-unknown
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
 
       - name: Build production binary and runtime
         run: cargo build --profile production -p aleph-node
diff --git a/.github/workflows/_build-test-node-and-e2e-client-image.yml b/.github/workflows/_build-test-node-and-e2e-client-image.yml
index 85a9abc143..0bfe1e3bfa 100644
--- a/.github/workflows/_build-test-node-and-e2e-client-image.yml
+++ b/.github/workflows/_build-test-node-and-e2e-client-image.yml
@@ -42,7 +42,7 @@ jobs:
           retention-days: 7
 
       - name: Install Rust Toolchain
-        uses: actions-rs/toolchain@v1
+        uses: ./.github/actions/install-rust-toolchain
 
       - name: Build binary and docker image
         run: |
diff --git a/.github/workflows/_build-test-node-and-runtime.yml b/.github/workflows/_build-test-node-and-runtime.yml
index 91f353a01d..5e1eca1270 100644
--- a/.github/workflows/_build-test-node-and-runtime.yml
+++ b/.github/workflows/_build-test-node-and-runtime.yml
@@ -25,10 +25,9 @@ jobs:
         uses: ./.github/actions/get-ref-properties
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
-
-      - name: Install WASM target
-        run: rustup target add wasm32-unknown-unknown
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
 
       - name: Build test binary and runtime
         run: |
diff --git a/.github/workflows/_check-excluded-packages.yml b/.github/workflows/_check-excluded-packages.yml
index 30f19dd105..a41ee5469b 100644
--- a/.github/workflows/_check-excluded-packages.yml
+++ b/.github/workflows/_check-excluded-packages.yml
@@ -16,7 +16,10 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install rust toolchain
-        uses: actions-rs/toolchain@v1
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
+          components: clippy rustfmt
 
       - name: Read excluded packages from Cargo.toml
         id: read_excluded
@@ -39,9 +42,6 @@ jobs:
           echo "targets=$targets" >> $GITHUB_OUTPUT
 
       - name: Check excluded packages
-        env:
-          RUSTC_WRAPPER: ""
-          RUSTC_WORKSPACE_WRAPPER: sccache
         run: |
           packages="${{ steps.format_output.outputs.packages }}"
           packages="${packages//'%0A'/$'\n'}"
@@ -54,8 +54,6 @@ jobs:
             fi
             echo "Checking package $p..."
             pushd "$p"
-            rustup component add clippy rustfmt
-            rustup target add wasm32-unknown-unknown
             cargo fmt --all --check
             cargo clippy -- --no-deps -D warnings
             popd
diff --git a/.github/workflows/_check-runtime-determimism.yml b/.github/workflows/_check-runtime-determimism.yml
index 75e95a3857..bda8bb30c1 100644
--- a/.github/workflows/_check-runtime-determimism.yml
+++ b/.github/workflows/_check-runtime-determimism.yml
@@ -7,7 +7,7 @@ on:
 
 jobs:
   main:
-    name: Verify runtime build determinism
+    name: Check runtime build determinism
     runs-on: self-hosted
     env:
       RUST_BACKTRACE: full
@@ -17,10 +17,9 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
-
-      - name: Install WASM target
-        run: rustup target add wasm32-unknown-unknown
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
 
       - name: Download production runtime from artifacts
         uses: actions/download-artifact@v3
diff --git a/.github/workflows/_unit-tests-and-static-checks.yml b/.github/workflows/_unit-tests-and-static-checks.yml
index 278d49b9da..f86c89b56f 100644
--- a/.github/workflows/_unit-tests-and-static-checks.yml
+++ b/.github/workflows/_unit-tests-and-static-checks.yml
@@ -16,13 +16,10 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install Rust Toolchain
-        uses: actions-rs/toolchain@v1
-
-      - name: Install clippy and fmt
-        run: rustup component add clippy rustfmt
-
-      - name: Install WASM target
-        run: rustup target add wasm32-unknown-unknown
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
+          components: clippy rustfmt
 
       - name: Run Format Checks
         uses: actions-rs/cargo@v1
diff --git a/.github/workflows/build-and-push-cliain.yml b/.github/workflows/build-and-push-cliain.yml
index 7d2d0c1630..f514593037 100644
--- a/.github/workflows/build-and-push-cliain.yml
+++ b/.github/workflows/build-and-push-cliain.yml
@@ -22,7 +22,7 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
+        uses: ./.github/actions/install-rust-toolchain
 
       - name: Cargo | Build release binary
         run: |
diff --git a/.github/workflows/build-docs.yaml b/.github/workflows/build-docs.yaml
index b5a56d5783..2a97229aa3 100644
--- a/.github/workflows/build-docs.yaml
+++ b/.github/workflows/build-docs.yaml
@@ -17,7 +17,7 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
+        uses: ./.github/actions/install-rust-toolchain
 
       - name: rustdoc | Build aleph-client docs
         run: |
diff --git a/.github/workflows/deploy-feature-envs.yaml b/.github/workflows/deploy-feature-envs.yaml
index 1740eb47b5..152c6d1032 100644
--- a/.github/workflows/deploy-feature-envs.yaml
+++ b/.github/workflows/deploy-feature-envs.yaml
@@ -97,7 +97,7 @@ jobs:
 
       - name: Delete old FE when redeploying
         if: contains( github.event.pull_request.labels.*.name, env.LABEL_DEPLOYED)
-        uses: ./.github/actions/destroy-feature-environment
+        uses: ./.github/actions/delete-feature-environment
         with:
           gh-ci-token: ${{ secrets.CI_GH_TOKEN }}
           aws-access-key: ${{ secrets.AWS_DEVNET_ACCESS_KEY_ID }}
@@ -497,7 +497,7 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Delete FE
-        uses: ./.github/actions/destroy-feature-environment
+        uses: ./.github/actions/delete-feature-environment
         id: delete_fe
         with:
           gh-ci-token: ${{ secrets.CI_GH_TOKEN }}
@@ -558,7 +558,7 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Delete FE
-        uses: ./.github/actions/destroy-feature-environment
+        uses: ./.github/actions/delete-feature-environment
         id: delete_fe
         with:
           gh-ci-token: ${{ secrets.CI_GH_TOKEN }}
diff --git a/.github/workflows/on-pull-request-commit.yml b/.github/workflows/on-pull-request-commit.yml
index 8678716297..03e1977a2a 100644
--- a/.github/workflows/on-pull-request-commit.yml
+++ b/.github/workflows/on-pull-request-commit.yml
@@ -401,11 +401,10 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Install Rust toolchain
-        uses: actions-rs/toolchain@v1
-
-      - name: Install rust-src
-        working-directory: ./contracts
-        run: rustup component add rust-src
+        uses: ./.github/actions/install-rust-toolchain
+        with:
+          targets: wasm32-unknown-unknown
+          components: rust-src
 
       - name: Run e2e test
         uses: ./.github/actions/run-e2e-test
diff --git a/BUILD.md b/BUILD.md
index 8931e98a33..3b423c5bbc 100644
--- a/BUILD.md
+++ b/BUILD.md
@@ -106,4 +106,4 @@ After a successful build the binary can be found in `target/release/aleph-node`.
 [nix]: https://nixos.org/download.html
 [rustup]: https://rustup.rs/
 [docker]: https://docs.docker.com/engine/install/ubuntu/
-[rust-toolchain]: ./rust-toolchain
+[rust-toolchain]: ./rust-toolchain.toml
diff --git a/nix/versions.nix b/nix/versions.nix
index ccf2d4fa99..93477c4a6d 100644
--- a/nix/versions.nix
+++ b/nix/versions.nix
@@ -2,7 +2,7 @@
 rec {
   rustToolchain =
     let
-      # use Rust toolchain declared by the rust-toolchain file
+      # use Rust toolchain declared by the rust-toolchain.toml file
       rustToolchain = with nixpkgs; overrideRustTarget ( rustChannelOf { date = "2022-10-30"; channel = "nightly"; } );
 
       overrideRustTarget = rustChannel: rustChannel // {
@@ -15,7 +15,7 @@ rec {
 
   nixpkgs =
     let
-      # this overlay allows us to use a version of the rust toolchain specified by the rust-toolchain file
+      # this overlay allows us to use a version of the rust toolchain specified by the rust-toolchain.toml file
       rustOverlay =
         import (builtins.fetchTarball {
           # link: https://github.com/mozilla/nixpkgs-mozilla/tree/f233fdc4ff6ba2ffeb1e3e3cd6d63bb1297d6996
diff --git a/rust-toolchain b/rust-toolchain
deleted file mode 100644
index 06f480baab..0000000000
--- a/rust-toolchain
+++ /dev/null
@@ -1 +0,0 @@
-nightly-2022-10-30
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
new file mode 100644
index 0000000000..8dc85561f7
--- /dev/null
+++ b/rust-toolchain.toml
@@ -0,0 +1,2 @@
+[toolchain]
+channel = "nightly-2022-10-30"