Waypoint Ref /1
Waypoints
Waypoints are a form of saving your progress through Wraeclast. Most areas (though not all) will have one, and they can be used to quickly travel from area to area. Reaching a Waypoint will refill your Life, Mana, Flasks and Charms.
Checkpoints
Checkpoints are a form of saving your progress through Wraeclast and will often appear before Boss fights and at points of interest. Reaching a Checkpoint will refill your Life, Mana, Flasks and Charms.

On death, you can choose to revive either in Town or at the last Checkpoint you reached. For this purpose, Waypoints also function as Checkpoints.
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