Version 3.8.0-70.1.beta

Merge 3.8.0-70.0.dev into beta
diff --git a/tools/VERSION b/tools/VERSION
index fadd1f5..e92b039 100644
--- a/tools/VERSION
+++ b/tools/VERSION
@@ -23,9 +23,9 @@
 #  * Making cherry-picks to stable channel
 #     - increase PATCH by 1
 #
-CHANNEL dev
+CHANNEL beta
 MAJOR 3
 MINOR 8
 PATCH 0
 PRERELEASE 70
-PRERELEASE_PATCH 0
+PRERELEASE_PATCH 1