Primarily used as a ligand in coordination chemistry, this compound forms stable complexes with various transition metals, facilitating catalytic processes. It is particularly valuable in the synthesis of metal-organic frameworks (MOFs) and in the development of catalysts for organic transformations, such as cross-coupling reactions. Additionally, its derivatives are explored in material science for creating luminescent materials and in electrochemical applications, including sensors and energy storage devices. Its unique structure also makes it a candidate for studying electron transfer processes in biochemical systems.