it says it awakens items without losing potential.
But how does it fit in?
Like alchemists are the ones that to do it, and its a preminum item so you can’t trade to them.
I’ll assume it lets you add it in the same UI when you add the item. If someone has tested it, please enlighten us. 
I belive this video can help you:
I belive people are talking in Russian, but you can understand the process watching it. The only difference is, if you don’t have your own Alchemist or don’t know one, you have to right-click an alchemist who learned Aweking skill and search the option “Aweking Item” in the menu.
Oh I belive your Premium Aweking stone go in the “Riches Materials” slot.
It’s a sacrifice material, once used on the awakening the item do not lose potencial.
You need an alchemist.
You use the awakening stone to add random stat to your eq. Has to have potential
Wont lose potential if you use the stone
Pay the alche via shard or goldbars for the calcite