waived / waved are similar-sounding terms with different meanings (referred to as homophones). To better understand the differences, see below for definitions, pronunciation guides, and example sentences using each term. 👇
waived: (verb) do without or cease to hold or adhere to.
waved: (verb) set waves in.
waived: w·EY·v·d
waved: w·EY·v·d
(Examples are Wikipedia snippets under the CC ShareAlike 3.0 license. Definitions drawn from WordNet.)