Protekt Protocol offers a decentralized insurance solution that allows for the creation of markets to protect against the risk of asset loss for any smart contract. The insurance it provides primarily targets DeFi protocols, or smart contracts built upon them, covering events such as hacking attacks and exploit vulnerabilities, compensating for losses caused by such incidents, and supporting the growth of the DeFi ecosystem.

PTK Token

Protekt Protocol will have a governance and cashflow token (PTK), though this token has not yet been launched. The PTK token serves as the governance and reward token for Protekt Protocol. It will be used for staking responsibilities within the protocol, making governance decisions, receiving rewards from protocol fees, being provided as protocol incentives, and funding grants and audit reports for the DeFi protocols covered by Protekt.