Used as a chiral derivatizing agent in asymmetric synthesis, particularly in the resolution and analysis of enantiomers due to its rigid dinaphthyl backbone and stereogenic phosphorus center. Its structure allows for effective coordination with metal catalysts, making it valuable in catalytic asymmetric reactions such as enantioselective oxidations and C–C bond-forming transformations. The iodine substituents enhance its utility in X-ray crystallography for structural determination of complexes. Also employed in the development of chiral sensors and ligands for transition metal catalysis.