So waves is an exchange and also allows for ICOs to be performed somewhat like Ethereum.

... but What exactly is the Waves token used for?

Use for russian prostitution industry and scam ico's just like Eth

Cool comment!
And where are the REAL industry and REAL profit?
Many people tell about guns, girls and spice...
May be profit there?

Wow best comments I've heard. Maybe this is true. Grin