If you upgraded to 7.4, then redis switched to a proprietary dump format, and if you want to use those dumps you'll have to use a third-party tool to dump the data and put it back in valkey.

https://github.com/valkey-io/valkey/issues/845#issuecomment-...

They only forked 5 months ago. Assuming you haven't adopted any brand new non-backward-compatible features in the last 5 months, then it should be a perfect drop-in replacement.

Haven't tried it in prod myself, but they claim full compatibility:

> This release is fully compatible with Redis OSS 7.2.4.

I'm from the project.

There shouldn't be any caveats of replacing Redis 7.2 and early to Valkey 8.0. I've talked with a few folks who have migrated and none so far have hit any issues, one even migrated from Redis 2.6.