Used in biosensors and drug delivery systems due to its ability to form inclusion complexes with hydrophobic molecules. The thiol groups allow for strong binding to gold surfaces, making it ideal for creating stable self-assembled monolayers in electrochemical sensors. Enhances selectivity and sensitivity in detecting small molecules like neurotransmitters and hormones. Also employed in controlled release formulations where targeted delivery and improved solubility of poorly water-soluble drugs are required. Its cavity structure enables encapsulation of guest molecules, while the functionalized rim provides sites for further chemical modification or immobilization on solid supports.