> For the complete documentation index, see [llms.txt](https://docs.ultiland.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ultiland.io/zh-cn/launchpad/artoken-issuance-and-trading-framework.md).

# ARToken发行认购与交易流程

<figure><img src="https://431556320-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FEsj6ss4FYcZ6L6o2yuHa%2Fuploads%2FKKN9LXeGvD3sejgQkYux%2F%E4%B8%AD%E6%96%87.png?alt=media&amp;token=6f2fd489-2b05-47ec-a94a-e3fcfea7f1d1" alt=""><figcaption></figcaption></figure>