Redraft Vs. Dynasty

Hey guys!

My friends and I are starting a dynasty league this year, and I was interested to know if y’all have any advice! It’s a 14 team half ppr dynasty league and we are drafting from scratch Sunday! Any advice on the difference between normal redraft and dynasty?

Dynasty is a long term game haha is the league going to do a general draft then the last fed rnds rookies only?
Is there a taxi squad and can you trade future draft picks?