The present invention provides a dispersant for aqueous and non-aqueous systems which can disperse insoluble fine powders in aqueous and non-aqueous liquids in a short period of time and give long-term dispersion stability to the resulting dispersions. The dispersant is a compound of the formula wherein CY is selected from the group consisting of aliphatic monocyclic compounds having one double bond and aliphatic polycyclic compounds with or without one double bond, or with or without bridge carbons; (n+x+y+z)>1; and R═—H, —SO3M, —CO2M, —PO3M, —OCR′ wherein M=H, or Na, K, Li, Ca, Mg, NH4, NH(R1)2, NH2R1, N(R1)3 where R1 is selected from the group consisting of C1-C6 alkyl and C1-C6 hydroxyalkyl; and R′═C2-C22 alkyl or alkenyl.