The second principal part of παύω, which provides the future stem, is παύσω. This verb, when used actively, can be transitive, and means "to stop [something/someone]". But when the verb is used in the middle voice, as it is in 1 Corinthians 13:8, it means "to cease". The future middle indicative is παύσομαι (first person singular) and the third person plural is παύσονται.
Thus, the verb has future tense and middle voice. This gives it the meaning: "(they) shall cease".
Ἡ ἀγάπη οὐδέποτε πίπτει· εἴτε δὲ προφητεῖαι, καταργηθήσονται· εἴτε γλῶσσαι, παύσονται· εἴτε γνῶσις, καταργηθήσεται. (1 Corinthians 13:8)
Love never fails. If there are prophecies, they will be brought to naught. If there are tongues, they will cease. If there is knowledge, it will be brought to naught.
The tense is important because it is saying that these gifts, which Paul had discussed before, will eventually be brought to naught, so we should not value them over the things that will abide: faith, hope, and love. And of these three, he says, love is the most important.