K = 0.01? Yeah, you'll get Q multiplication at the gate. OP is talking about "transformers" which presumably have K > 0.9... but who knows, no such parameters have been mentioned here yet.
Anyway, yeah, biasing. A divider works more or less, but won't work over a wide voltage and temperature range. Better is a diode-strapped MOSFET, so that the oscillator drain draws a current proportional to the bias current into the "diode", and the ratio of channel widths. Downside: this isn't practical to do with discrete parts (2N7000s), it's almost exclusively an IC thing. SPICE will behave correctly though (indeed, SPICE assumes transistors are identical; indeed, it was written for simulating ICs).
The solution for a real discrete implementation, is to make a "Vbe multiplier" (except Vgs(th) in this case), i.e. apply bias current to drain (source grounded), and wire a voltage divider from drain to gate to GND. This way, drain current equals the bias current (less a small current into the resistor divider: use relatively large values so this current is small), and therefore Vgs is held at whatever voltage corresponds to that drain current. Then: bias the oscillator from another voltage divider, so that its Vgs can be offset/adjusted relative to that reference. If the transistors were matched, the two divider ratios would also be matched, but in practice they will have different Vgs(th) and gain, and the adjustable range allows you to account for this. Now the two transistors will track with temperature and be independent of supply voltage, or at least, better than a fixed divider will.
Tim