Waoved or Waived: How To spell?

The word Waoved is misspelled against Waived, which is past tense of "Waive"

Word contains consecutive vowels 'AI' in between alphabets w & ved is misspelled as 'AO'
Wrong Spelling:  w-ao-ved 
Correct Spelling:  w-ai-ved 
Find more incorrect spellings of Waived to spell right way.

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