Thomas, 26, is a former third-round pick of the Dolphins back in 2013. He was in the final year of his four-year, $2.846 million contract and set to make a base salary of $705,000 for the 2016 season when the Dolphins cut him loose after a disappointing outing.
Thomas has worked out for the Lions and Titans in recent weeks.
In 2016, Thomas has appeared in two games for the Dolphins and has been limited to playing just 71 snaps, according to Pro Football Focus.
Davis, 25, is a former third-round draft pick of the Dolphins back in 2013. He’s in the final year of his four-year, $2.701 million rookie contract and stands to make a base salary of $682,500 for the 2016 season.
The Ravens acquired Davis from the Dolphins a few weeks ago into the 2016 season for a seventh-round pick that eventually became Stephen Weatherly. Baltimore waived him a few weeks ago.
In 2016, Davis has appeared in three games for the Ravens and recorded four tackles, one interception and a pass defense.