Used as a chiral N-heterocyclic carbene (NHC) precursor in asymmetric catalysis. It plays a key role in enantioselective transformations, particularly in transition-metal-catalyzed reactions such as asymmetric hydrogenation, C–C bond formation, and ring-opening reactions. Due to the bulky naphthyl groups and defined stereochemistry, it helps induce high enantioselectivity in the synthesis of chiral molecules, making it valuable in pharmaceutical and fine chemical industries for producing single-enantiomer compounds. Its tetrafluoroborate salt form enhances stability and handling in air-sensitive reactions.