Wating is w(annabe) dating. You desperately want to date but think you are too good for a datingsite.
Rik: Well, I don't understand why I am still single. Everyone has a partner because they're losers who date on datingsites.
Derek: Oh my god, Rik, you are so obviously wating.
Pronounced like "waiting". Two individuals who are attracted to one another, though, they can not or will not be considered dating yet. One can jump in and out of the waiting phase since it is not as serious as dating. Like the term waiting, but in a relationship sense.