We have a 24 man roster with 10 teams. We do not have free agency for 4 weeks. At the four week point, we have a midseason draft. We all drop 2 players and draft 3 using a worst to first draft based on week 4 standings. After this midseason draft, we are allowed one roster move per week. The waiver wire priority is determined by week 5 standings. All teams NOT making a pickup are floated to the top of the waiver wire, and those making pick ups sink to the bottom. No money changes hands for trades or FA pickups. Trading and FA close week 10. Very tight system. Incorporates a fun draft after 4 weeks of no roster changes (other than trades). Waiver wire sorting ensures teams do not make frivilous pick ups. Lots of trading in our league.
Another interesting feature is our keeper policy. We are allowed to keep 4 players. A keeper can be kept for just 4 consecutive years by any combination of owners, the year drafted, plus 3 additional ones. Trading them does not reset their clock. This keeps our draft fresh every year with a combination of 1/4 of the top 4 round players and all the promising rookies. Example, our 2007 draft went Chad Johnson, Rudi Johnson, Torry Holt, Peyton Manning, Adrian Peterson, Randy Moss, Marshawn Lynch, Tom Brady, Drew Brees, Marion Barber. Next year the following are UFA: Boldin, Palmer, S.Smith, S.Jackson, McGahee, Fitzgerald, Walker, Wayne, RoyWilliams, Gates.
Trading is an all year round event in our league. We have some other great features that all work together to keep the league fresh and entertaining.