Loki v0.4.0 introduces significant enhancements as it progresses toward its first General Availability release, with a focus on more frequent updates and new features like calculating metrics from logs through a Prometheus-compatible API. Users can now create metric panels directly from logs via Grafana by setting up a new Prometheus datasource pointing to their Loki URL. Additionally, the update includes improved documentation, particularly in Loki configuration and HTTP API sections, courtesy of Robert Fratto's efforts. A new set of /loki/api/v1/* endpoints has been introduced to eventually replace the deprecated /api/prom/* endpoints, aiming for better Prometheus compatibility and improved API structure. With almost 150 pull requests merged in this release, the development team is prioritizing issues and planning a roadmap to address future features and enhancements, inviting community feedback through GitHub.