‘No Way’ is one of several different Battle Emotes that you can bind to your character, with its selection changing how your ninja reacts at set stages of a match.
By going into the Closet and then the Battle Emotes menu, you can pick No Way as your Ninjala character’s go-to action at the start of a battle, in defeat, or when victorious.
‘No Way’ Official Description
“Fall to your knees in utter shock and disbelief. What is this world coming to?”
‘No Way’ Animation
The No Way Battle Emote is one of the more subtle options, with your Ninjala avatar showing a face of pure astonishment, subsequently falling to their knees. This action was likely designed for use in defeat.