The concept of a living planet is a very intriguing idea. I'm wondering if Sawk is just a planetary Unfallen or an actual living planet like Marvel's Ego? I write that because the Elder entrusted the seed of Sawk to Ract knowing Sawk is alive. Or is the seed of Sawk just an Unfallen seed?

Okay, now for technical stuff. I noticed some grammatical errors. What I suggest are just that, suggestions, but I do recommend rewriting a few sentences for better clarity.

Additions will be in red. Unneeded words will be struck out. Recommendation of rewritting will be in blue. Notes will be in parentheses, green and bold.

Long ago before even the endless rose to power, there were many the ancients. Races of great power and knowledge that lived in peace and with harmony. They were once guardians, but that age has passed now. As Ract looked up at the burning sky of his world, he realized that their time had come to an end. He walked along now dried river beds of their ancient living planet “Sawk.” He listened for the sounds of the once thriving forest now a barren wasteland covered under ash and stone from their weapons. As the sky lit up with a blast of light, the planet shuddered. It was dying. Ract now stood on the steps of an ancient temple built of an unknown material a dust of sorts. (This phrase is confusing. Were you trying to communicate that the temple was built of an unknown material composed of dust or the material's composition included dust?)  

“I have come for our hope.” 

The temple shuddered as from the inside as a giant appeared. 

“So it is time.” 

As he spoke, a fleet of alien ships flew over head smoking and ablaze. (When I think ablaze, I think of something on fire. I'm not sure if that's the connotation you want to communicate, or did you mean ablaze as guns-blaring-away-kind-of-ablaze?) As Ract stood there, the giant produced a seed from deep within the temple. The seed of Sawk, the Unfallen's only hope, for in their peace, they were arrogant and slow to realize, that they had been set up from the start.  As Ract took the seed, the giant and the temple took on a fascinating transformation into their only hope of escape from the great armies that swept upon their world. The Giant, once known as the elder, took flight releasing energy stored for generations to escape orbit, and in it’s wake, the sky turned blue, the life returned, and the fleets dispersed making this ship a beacon of hope for their (The immediate antecedent is the fleets. Perhaps just use "the Unfallen"?) race that they would live on once more. (This is a run on sentence. Consider ending the first clause after the life returned.) But it’s never that simple as they were shot skyward (Could you clarify if the fleet ships were shot down or flew up?) by the Elder's energy. Another ship arrived, one made of gold that shown with energy under it’s many plates of armor, as it charged up for it’s an attack. (Consider rewriting: as it charged for an attack, lights escaped from between the plates) Ships from all over the planet swarmed to either destroy the ship (Could you clarify whether this ship is either the Elder or Gold plated ship?) or to protect it, and but with each falling ball of fire, that went down Ract felt deep within they (Consider using the Unfallen.) would not survive. The beam from the ship (Again, could you clarify whether this ship is either the Elder or Gold plated ship?) turned the very air around it to the smallest of particles speeding faster than the Elder could escape smashing into its starboard hull shredding draining killing. As the Elder spun out of control unconscious (Did the Elder died or is it unconscious?) to the alien fleet about to destroy him, Ract saw a flash not from the ships but from Sawk as with the last of the planet's energy it exploded decimating all in it’s path. Now Ract, as the weapons of their enemies turned them to stone and with the last of his strength, (I noticed an inconsistency here. If Sawk's explosion killed everything, how did Ract survived to turn to stone and cocoon the seed of Sawk?) he cocooned the seed in his now rocklike body. And as he listened to the silence of space he sent up a silent prayer. That one day the seed would blossom to form a new world, but until that day it floats in space alone waiting for when the time is right.