Short For: Ain't no way
Commonly used when something stupid or fucking gay has happened and you can't be fucked to say Ain't no way.
Dude 1: Holy shit bro I love taking dick
Dude 2: ainowae
Dude 1: kill yourself
Dude 2: ainowae
Dude 1: (he killed himself)
Dude 2: ainowae