Draft pick protection is a condition on a traded pick that returns it to the original team if it lands in a protected range. "Top-10 protected" means the new owner gets the pick only if it falls at 11 or later; otherwise it rolls to a later year or becomes a lesser pick.
HoopSim has no pick protections. Picks move as whole picks, with no conditions, so when you trade your first-rounder the other team gets it wherever it lands, lottery win included. The limits that do apply: each team holds its first- and second-round picks for the next three drafts (the commissioner can open trading to five years out), you must keep at least one first-round pick in every pair of back-to-back future drafts (the Stepien rule), and you cannot trade away your last first-rounder.
Rulebook: Draft picks. Related: pick swap, draft lottery.