Last season a lot of users requested a waiver system that places dropped players on waivers for only a fixed amount of time (e.g., 24 hours).
I've added that option. If your league uses waivers, a dropped player will not become an unrestricted free agent until they clear waivers.
The default amount of time is 24 hours. I will soon add an option for 48 hours.
During that time, all teams can submit claims for that player. The team with the highest waiver priority (based on reverse power rank during the season and draft order in the preseason) will be awarded the player. If no team claims the player, the player becomes an unrestricted free agent.
I'll also be adding an option for the commish to customize waiver order.