from playrust.net,
"When is the next update?
So what’s likely to happen is this. Some time in the next 2-3 weeks a new branch will appear on Steam. The community will be split in two. New and old.

We’re not going to take the old branch away from you until everyone is in universal agreement that the new branch is the future. And even then we’ll probably keep the old branch anyway – just for a laugh."

Fresh start for all. Many have asked for a wipe and indeed it seems the time has come. As for if we'll need to wipe again at the next big update, who knows?

As most of you know, the failed ocean arena project caused much lag. Abandoning the project cured much of the lag, but not all of it. After further research, I learned I can remove an entire structure with one hit, with the proper command. I did, the ocean arena is gone, and with it, the lag. :)

The Construction of the Player Arena has started. There will be more information to come when it is completed.