Cap: None
Round One
Everyone starts with $100 to spend on your 12 man roster. You can spend $89 on one player, spread it out evenly among all twelve guys, or do something in between.
Each user sends their ballots to the commissioner. The commissioner will send out their ballot to the first three users who submit theirs. $ must add up to $100 for all 12 players.
Highest bidder gets exclusive rights to the player. If there is a tie, no one gets the player.
Subsequent Rounds
Whatever $ you have left is how much you have to spend. Any undrafted player is available. Any player who was in a tie the previous round is available.