> For the complete documentation index, see [llms.txt](https://artokens.gitbook.io/artokens-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://artokens.gitbook.io/artokens-docs/white-paper/sp500-reference-token-spys.md).
# SP500 Reference Token (SPYs)
Welcome to the ARTokens Docs Hub — your single source for our official documentation.
This section provides the official **White Paper for the SP500 Reference Token (SPYs)** and any future updates. The SPYs is a price-tracker token referencing the SPDR S\&P 500 ETF (SPY), issued by ARTokens GmbH. The SP500 Reference Tokens seek to maintain a stable value in relation to shares of the SPDR S\&P 500 ETF Trust (ISIN: US78462F1030) ("SPY Shares").
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### Overview
Our Whitepaper explains the legal structure, technical design, backing assets, and compliance classification of the token under the EU Markets in Crypto-Assets Regulation (MiCAR). It includes:
* Details about the backing asset, assets custodian, and independent auditor
* Description of the token’s core functionalities, including minting, burning, transferability, and redemption rights
* Information about the supported blockchains and smart contract standards
* Governance and operational arrangements for issuance, redemption, and reserve management
* Conditions for modifications, termination rights, and insolvency protections
* Risk factors and disclaimers as required under MiCAR
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### Version History & Audit Trail
This table tracks the publication dates and versions of all official updates regarding the White paper.
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*Please always check for the latest version before relying on any document.*
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