This compound is primarily utilized in the field of supramolecular chemistry due to its unique bicyclic structure, which allows it to act as a host molecule in host-guest interactions. Its ability to form stable complexes with various cations, particularly alkali and alkaline earth metals, makes it valuable in ion recognition and separation processes. It is also employed in the development of sensors and molecular switches, where its selective binding properties are exploited to detect or respond to specific ions. Additionally, its structural features contribute to its use in the design of advanced materials, such as ion-conductive polymers or frameworks for catalysis and storage applications.