BNB was launched through the initial coin offering ("ICO") event held from June 26 to July 3, 2017. 11 days later, the Binance trading platform officially opened for trading. Its initial issuance price is 1 Ethereum and 1 Bitcoin, which can be exchanged for 2,700 Binance Coins and 20,000 Binance Coins, respectively. Although BNB is issued through an ICO, the holder of BNB is not a shareholder of Binance, nor is it an investor in Binance. The original BNB issued was an ERC-20 token circulating in the Ethereum network, with a total supply of 200 million. A total of 100 million BNBs were issued during the ICO, but after many regular burns (Binance destroys the BNB saved in its own vault), the total supply has fallen. To learn more about the token destruction plan and the reasons for permanently destroying BNB, please read "What is Token Destruction?" ". Although it was based on the Ethereum network at the beginning, but later, ERC-20 BNB tokens have been able to exchange BEP-2 BNB at a 1:1 exchange rate. BEP-2 BNB is the native token of Binance Chain, and its mainnet was officially launched on April 18, 2019.