A tokenized form of platform on which decentralized applications (DApp) are built and operated (the same way like Android and iPhone platforms are meant to function). The more applications are built on these platforms, the more valuable they get. These platforms, or protocols, are used to build another type of tokens on top thereof: utility tokens.

Examples of protocol tokens include Ethereum, ICON, EOS, NEO, etc.

These tokens are also known as platform tokens.