Greystones, also known as Waystones, Standing Stones or Laystones, are stones along the road throughout Temerant.
Greystones are usually over a dozen feet tall. They are said to mark old roads and safe roads and are known to the Edema Ruh as a symbol for good luck. They have a certain air of mystery about them. Some assume them to be pagan relics, something that should be avoided.
In the Chronicle
Greystones first appear after Kvothe binds his lungs to the air outside. Abenthy is angry with him and while they are riding in "endless agony of slience" they hear someone shout "greystones". It is known that The Edema Ruh have a habit of stopping for the day at greystones mostly because the greystones bring good luck. It is a break from the road. Apart from that, it is in their tradition to do stop at every greystone they encounter. Arliden, Kvothe's father, has a poem that he half remembers about the greystones:
- "Standing stone by old road is the way
To lead you ever deeper into fae
Laystone as you lay in hill or del
Greystone leads to, something something 'ell'"
The something something may refer to a region in The Fae Realm known as the Mael (where skin-dancers come from) as there is strong evidence that Greystone's lead to the Fae Realm (see down below) and "the Mael" nicely completes the end of the last line's rhyme scheme in the poem's couplet. The something somethign may also refer to "Faeriniel", which is the place where "all roads in the world meet" . We don't know what Faeriniel is, but the "Fae" in "Faeriniel" indicates Faeriniel may be the Fae realm. Also note that in the story about Faeriniel, the tinker is described as going "INTO Fariniel", and that Fariniel is a "strange place"  [caps mine].
Later on Kvothe's mother soon spins her song for the greystone:
- "whatever the season
That I'm on the road
I look for a reason
Loden or laystone
To lay down my load""
- ―Laurian's song
After the death of his parents Kvothe is in shock and hides behind the doors of sleep, he dreams that his father and Ben are talking about the greystones. Later when he is about to touch them he wakes up from his dream.
After the Mauthen farm incident, Kvothe notices three huge greystones forming and arch. He and Denna take shelter on top of the same stone arch.
Kvothe narrates the story of an old man to Sim and Wil while they sit by against a greystone. In the story, the old man is in Faeriniel and Enters a cirlce of greystones. Sim and Kvothe get into a argument and make a bet on it. They solve their bets in the Archives later on.
Kvothe in the present time or Kote uses the name Waystone for his inn, which is another name for greystone.
The purpose of greystone is speculative. It is said that graystones lead you in and out of the fae realm. For the matter, Kvothe even leaves the fae realm around the greystones. It is even said to a protective charm against the Chandrians. Greystones are also said to be a part of faeriniel, the great crossroads where all the roads in the world meet.
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