This artefact grants the wearer with spider like powers: wall-crawling, enhanced strenght, stamina, speed, agility and such, and le'ts not forget the incredible spider-sense!
Once applied to a person, it will analyze the person mind and body to make the most adapted costume, which will never change, or only on special occasions. It can be removed only if the wearer wills it so it cannot be stolen.
However, it's something else that make this artefact interesting: it evolves. To put it more clearly, the powers given to the wearer aren't that great at the start: barely enhanced strenght, speed and agility; no webs, wobbly wall crawling and the spider-sense only detects the most dangerous dangers. AND those powers only works when the suit is on.
The only way to obtain greater powers is to train them (like videogames: when you train your 'strenght' stat by lifting or doing related stuff, it will increase) or to earn them (the spider will judge if you earned greater powers and if youdid, it will grant them).
When, he just obtained hes powers, Arakno was at lv0 and he only got the mentioned abilities above.
After training and earning some more power, he reached lv1: more strenght, speed, agility, durability and stamina and his spider-sense became better too.
At lv2: he get normal webs, better wall-crawling and some more agility. His powers start to work even without the suit.
At lv3: his wall-crawling gets on par with other spider-men and his strenght, speed, stamina and durability increase too.
At lv4: he obtaines shot-webs (big webs which can trap average people in one shot), his other stats increases too and are now on par with an enhanced Spider-man (something about lifting 10 to 15 tons in strenght, outrunning a car and such), and his spider-sense is now average too.
At lv5: he can now shoot something akin to tazer webs and his spider-sense can work as a sonar, to find hidden stuff.
At lv6: he has access to web traps: by touching a spot and focusing, he can place an almost invisible web like mark that will shoot a web when someone pass.
And probably more to come but that's it for now.