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For example, could the Cavaliers offer a pick swap on the Brooklyn pick? Could they put a top 3 protection on a pick swap on the Brooklyn pick?

NYG wrote:For example, could the Cavaliers offer a pick swap on the Brooklyn pick? Could they put a top 3 protection on a pick swap on the Brooklyn pick?

They could do both.

To trade the swap it ends up phrased something like "The better of the Cavaliers and Nets picks to Team X and the other to Cleveland."

They could always add protections by doing something similar.

This is a fairly new change, as previously teams were only allowed to put protections on picks that were their own.