> 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="/files/q6BfnYcBDM1UvzhgBYGg" alt=""><figcaption></figcaption></figure>