For what i can use ILC at the moment, is it utility token with some specific purpose or is it more like store of value type?
At the moment it has same use as BTC, it is a store of vlaue, but is also future proof with being resistanr to 51% attacks and quantum attacks. Smart contracts functionality will come later this year, most probably in Q4.
Just a reminder that update is out, so those who forgot to update, it would be good thing to do it as soon as possible.