Thanks for the explanation.
That sounds a lot like InstantDEX which I think was planned for NXT but not implemented.
I've just downloaded and opened the lite wallet now. Very impressed at how quick and easy it was to get everything set up.
Does the seed that the wallet gives me at the beginning function just like a NXT passphrase (i.e. it's the only thing I need to access my account)? Everywhere I go it says that a WAVES seed should be 12 words long but why does mine have 15 words?
Уou are welcome.
Seed it's a base for private key generation. So, yes, it's like NXT passphrase and it's very important.
Automatically generated seed has 15 words. But if you want you can use another sequence (from your password manager as example).
It is important only that it's must be difficult to hack.
The Waves client also uses a account password that is used to encrypt a local wallet (stored in a web browser local storage).
If you lose this password or you lose your web browser storage (hardware, software fail, etc), you can create a new one from your seed.
I hope I clearly explained. English is not my native language.
---What are some good projects happening on WAVES right now and how do I find their assets?
The only ones showing up for me are Waves, US Dollar, Euro, Chinese Yuan, Waves Community, Miner Reward, and various combinations of these.
Do I need to find and enter an asset ID into the search box rather than its name (as in the case with NXT)? Or do I need to download the full wallet to use the asset exchange?
Apologies for asking so many questions. And thanks in advance!
I do not follow closely the projects on the platform, so I don't recommend any.
I read only ZrCoin thread but it's doesn't has asset now (ICO will be started soon).
But I heard about RiptoBux, Mercury (Darkrus?), Chronobank, Incent, MobileGo and other.
Check posts of user 'yoyoamigo'
https://bitcointalksearch.org/user/yoyoamigo-224866He made a lot of work to collect info about the platform, tokens, news, etc.
You can use exchange from lite wallet. Waves doesn't has a full wallet only lite client, mobile client and full node with API.
And yes, asset ID is main. Waves has same problem with asset names as NXT, but devs promised that will solve this problem.
P.S. I forgot about exchage Tidex (
https://tidex.com). Some tokens are traded on that exchange.
for the airdrop , you need only have some waves in your wallet ( yes your Alpha wallet ) 
