The Chronoton Detonator is a machine employed by Slade that has the potential to freeze time forever. The Detonator is controlled by a remote, which is held by Slade.
The Teen Titans' mission was to prevent the Chronoton Detonator from being activated in the episode "Apprentice - Part 1". Slade had warned the Teen Titans that he was going to use it to freeze time forever. The Titans rushed to find it before Slade could use it. In the end, the Titans managed to find it and, with Cyborg's help, managed to disarm it. Slade finally revealed that the Chronoton Detonator was a fake; his real plan was to lure Robin to his base, so that Slade can force Robin to become his apprentice.
Slade later revealed that the Chronoton Detonator was more than just a decoy; it was also a trap for injecting the nanoscopic probes in each Teen Titan's body (excluding Robin).