Effective 7 July 2026 · Supersedes the 11 April 2026 version
This agreement is between you ("the Patron") and Initiative X Ltd ("IX", "we", "us"). By subscribing to Patron membership, you agree to the Consumer Membership Terms & Conditions and the additional terms below.
| Fee | £30.00 per month |
|---|---|
| Billing | Charged monthly via Stripe on the anniversary of your sign-up date |
| Auto-renewal | Your subscription renews automatically each month until cancelled |
| Payment method | Credit or debit card via Stripe |
IXR (IX Rewards) are the consumer reward unit of the IX ecosystem: redeemable at IX venues (subject to venue compensation rules), non-transferable, never redeemable for cash, and expiring 24 months from the date earned. IXT is the settlement and investment-entry token: 1 IXT = £1, closed-loop, recorded on the IX Platform Ledger, and not earned directly on consumer spend. Neither IXR nor IXT is legal tender, cryptocurrency, or a regulated financial instrument, and neither carries guaranteed value or liquidity.
As a Patron, you may convert IXR to IXT on preferential terms:
| Rate (before fee) | 10 IXR → 1.10 IXT |
|---|---|
| Conversion fee | 10%, deducted in IXR before conversion (net: 100 IXR → 9.90 IXT) |
| Minimum conversion | 100 IXR |
| Aging requirement | IXR must be at least 30 days old |
| Frequency | Once per calendar month |
Vested IXT may be withdrawn to cash only as an edge-case right under a tiered schedule with a 3-year minimum lock, as set out in the Consumer Membership Terms. Cash withdrawal is not a marketed feature of the programme.
Patron preferential pricing ranges from 10% to 50%, set at each operator's or brand's discretion within the IX framework range (10% minimum for a meaningful Patron benefit, 50% maximum). Discounts and offers vary by venue and are subject to change. IX does not guarantee any specific discount level at any given venue.
Founding Patrons admitted with a FOUNDING promotion code receive complimentary membership for the promotional period. At the end of the promotional period, IX will notify you before any charges begin. You may cancel at any time during the promotional period at no cost.
You may cancel your Patron subscription at any time. Cancellation takes effect at the end of your current billing period, and you retain Patron benefits until then. No refunds are issued for partial months. Unless you also close your IX account, your membership continues at the Explorer tier and your IXR balance is unaffected (Patron conversion terms and benefits no longer apply). If you close your IX account entirely, any remaining IXR balance is forfeited and vested IXT remains subject to the tiered vesting schedule, as set out in the Consumer Membership Terms.
To cancel, email us at hello@initiativex.co.uk or use the cancellation link in your Stripe billing portal.
Patrons may apply for additional certified tiers:
Access to certified tier services is subject to approval by IX and may require additional agreements signed via electronic signature.
In addition to the data processing described in the Consumer Membership Terms and our Privacy Policy, Patron data processing includes: payment information (processed by Stripe, not stored by IX), visit frequency and spend data for IXR calculations, and preference data for personalised recommendations. We do not sell your data to third parties.
IX provides the platform on an "as is" basis. To the fullest extent permitted by law, IX shall not be liable for any indirect, incidental, or consequential damages. Our total liability to you shall not exceed the subscription fees paid by you in the 12 months preceding the claim. Nothing in this agreement excludes liability for death, personal injury, or fraud, or limits your statutory rights as a consumer.
IX may update this agreement with 30 days' notice via email. If you do not agree to the changes, you may cancel your subscription before the changes take effect. Continued use after the effective date constitutes acceptance.
This agreement is governed by the laws of England and Wales. Any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales.
By subscribing to Patron membership and ticking "I agree to the Patron Membership Agreement" at checkout, you confirm that you have read, understood, and agree to be bound by both the Consumer Membership Terms & Conditions and this Patron Membership Agreement.
InitiativeX | initiativex.co.uk