The rosters have all been trimmed down from 90 players to 53(Broncos have yet to announce their 53 yet) and now hundreds of players have hit the waiver wire. This means that all 32 teams will meet and look over the waiver wire and see what players they would like to put a claim on and potentially add to their roster.
Now, the waiver wire is set by the NFL Draft order. Even if your team didn’t have a first-round pick, your waiver position is set by where would have picked at in the first round of the NFL Draft.