History and specifics
The station managed starship traffic control operations, served as a listening post, and maintained a network of early warning navigation beacons. Although its facilities were limited compared to other locations in the Sol system, a dozen Federation starships were routinely based at the station to perform search and rescue, patrol and defensive missions.
Starfleet Academy cadets trained at the station. Sometimes cadets were sent there for disciplinary purposes, as a tour of duty there was routine and could be considered dull. (Last Unicorn RPG module: A Cadet's Guide to Sector 001 Earth)