It hasn't been addressed yet, but is there a wait time associated with Franchise/Transition players where teams can offer contracts and the home team gets a chance to match before they can be traded? I'm pretty sure that PKP set aside the first week of free agency for that, but I think that 3 days + 24 hours is more than enough time for teams to deal with those issues. Waiting a full week left the cupboard bare by the time you dealt with your franchise players.
I think I will allow 3 days after free agency starts to put a bid on a franchise player or a transition player. At that point, the player is signed to the tendering team and may be traded if he has not received any offers. RFAs/ERFAs will probably get a week or 10 days.