Creating:
In order to make a life stone you need to combine the following in the Chaos Machine.
5 Jewel of Bless
5 Jewel of Soul
1 Jewel of Guardian
1 Chaos
5 million Zen
The success rate is 100% Anyone can make them and they can be traded.
Their Use/Who can use them
The life stone is used in Castle Siege. It is a re-spawn point for the attacking guilds. When the life stone is dropped, until it gets destroyed, you and your guild mates re-spawn at the stone when you die. Now I'm not 100% sure about the details of who can drop them or who re-spawns there exactly. From what I can tell, it's one of two ways....
1.)Only the GM and Asst. GM of the alliance leader can drop the stones and all the alliance members re-spawn there.
2.)Any GM or Asst. GM can drop it and only their members re-spawn there or perhaps all alliance members start there.