Now that there are "minor league" teams that we can send players down to I think it is a good time to start figuring out a waiver system to prevent teams from hoarding players by making players waiver eligible.
This is one possible way for such a system to work.
For players to be eligible to be claimed they have to be a certain age. Say 24. When they become eligible is completely open for discussion however I do think the minimum age considered should be 23. If they signed at 21 they have only been on that team for 2 full seasons. Any less I think would be at least a bit unfair to the team. Also they have to be sent to the farm team during the regular season. Anyone sent down before the regular season starts is not waiver eligible when they get sent down before the regular season but they are eligible for waivers if they get called up at any point.
As for who can claim them well at least the same league teams. I would also throw in lower league teams as well if the player would have interest in playing for said team at the lower level. As for the order of who would get waiver claims same league should start off going in reverse standing order, meaning worst team in same league gets first dibs on any waiver claims, until you reach the playoff line and then lower league teams get dibs (going form worst to best again) finishing with teams in playoff position from the original teams league.
Now that who is eligible and who can claim had been presented how would it work? Well when a waiver eligible player gets sent down a notification pops up in the league news section on the league home page. "x gets put on waivers." could be what it says. Also they would appear in a new tab in the transactions section called waivers. The player would be there for a number of days. For example sake lets say 4 in game days. During these 4 days any team interested puts in a waiver claim. After the required days pass the team that put in a claim with the highest position in the waiver claim system order gets the player.