Crossword Genius

I enter, make a sign of greeting but give up (5)

Ross

I believe the answer is:

waive

I'm a little stuck... Click here to teach me more about this clue!

'give up' is the definition.
(I know that give up can be written as waive)

'i enter make a sign of greeting' is the wordplay.
I cannot quite see how this works, but
'i' could be 'a' and 'a' is located in the answer.
'sign' could be 'v' (a V-sign a gesture made with two fingers) and 'v' is located in the answer.
The remaining letters 'wie' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...

'but' acts as a link.

Can you help me to learn more?

(Other definitions for waive that I've seen before include "Don't insist on" , "Refrain from insisting on rights" , "Give up" , "Refrain from insisting on right or privilege" , "Forgo right or claim" .)

I've seen this clue in the Sydney Morning Herald.
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