Now they are promoting WCT (Tokens Community Waves), waves itself in the background, as I understand it. Exchange rate goes down, and it will continue to fall until the team will become reasonable. Incent that was released on the waves platform thus also is waiting for the collapse.
This is just worth clarifying as I think it misunderstands Waves.
Waves is a custom tokens platform. Ultimately there will be many, many tokens issued on Waves, and their value will be determined by the market, not by the WAVES token. They won't even be pegged to WAVES, in the way that many assets were pegged to NXT on the Nxt Asset Exchange, because they will trade directly against BTC and other currencies.
The market cap of a token is not dependent on the market cap of Waves. Successful independent tokens will drive the value of WAVES though.
WCT is one of many tokens, as is Incent. None is a replacement for the core WAVES token. An active token system is a pre-requisite for a valuable WAVES token.