 Smash product of spectra

The derived smash product of spectra is the symmetric monoidal product on the stable homotopy category. It has unit sphere spectrum, preserves cofiber sequences of spectra and homotopy colimits of spectra in each variable, and satisfies ${\Sigma }^{\infty }X\wedge {\Sigma }^{\infty }Y\simeq {\Sigma }^{\infty }(X\wedge Y)$.