diff --git a/daemon/src/setup_contract.rs b/daemon/src/setup_contract.rs
index c89e953..faf5b08 100644
--- a/daemon/src/setup_contract.rs
+++ b/daemon/src/setup_contract.rs
@@ -56,6 +56,8 @@ pub async fn new(
         .try_into_msg0()
         .context("Failed to read Msg0")?;
 
+    tracing::info!("Exchanged setup parameters");
+
     let (other, other_punish) = msg0.into();
 
     let params = AllParams::new(own_params, own_punish, other, other_punish, role);
@@ -86,6 +88,8 @@ pub async fn new(
     )
     .context("Failed to create CFD transactions")?;
 
+    tracing::info!("Created CFD transactions");
+
     sink.send(SetupMsg::Msg1(Msg1::from(own_cfd_txs.clone())))
         .await
         .context("Failed to send Msg1")?;
@@ -96,6 +100,8 @@ pub async fn new(
         .try_into_msg1()
         .context("Failed to read Msg1")?;
 
+    tracing::info!("Exchanged CFD transactions");
+
     let lock_desc = lock_descriptor(params.maker().identity_pk, params.taker().identity_pk);
 
     let lock_amount = params.maker().lock_amount + params.taker().lock_amount;
@@ -157,6 +163,8 @@ pub async fn new(
     )
     .context("Refund signature does not verify")?;
 
+    tracing::info!("Verified all signatures");
+
     let mut signed_lock_tx = wallet.sign(lock_tx).await?;
     sink.send(SetupMsg::Msg2(Msg2 {
         signed_lock: signed_lock_tx.clone(),
@@ -212,6 +220,8 @@ pub async fn new(
         })
         .collect::<Result<HashMap<_, _>>>()?;
 
+    tracing::info!("Exchanged signed lock transaction");
+
     Ok(Dlc {
         identity: sk,
         identity_counterparty: params.other.identity_pk,