Consumer Membership Terms v2.1 · Effective 7 July 2026 · Supersedes the 11 April 2026 Explorer Terms
IX Membership is a loyalty programme operated by Initiative X Ltd ("IX", "we", "us") that rewards you for spending at IX-certified hospitality venues across the United Kingdom. You earn IXR (IX Rewards) at 1 IXR per £1 of cash spend (excluding VAT and service charge) when you visit certified venues. IXR can be redeemed at IX venues, and can be converted to IXT through a controlled conversion path. IXT sits in the settlement and investment-entry layer of the IX ecosystem and is not spent at venues for consumer transactions.
This document sets out the terms of the programme. Please read them carefully. By joining, you agree to these terms.
| Term | Definition |
|---|---|
| IX / Initiative X | Initiative X Ltd, the operator of the IX Membership Programme. |
| Member / You | A person who has registered for and joined IX Membership. |
| IXR (IX Rewards) | The consumer reward unit earned by members at IX-certified venues. IXR are redeemable at venues and convertible to IXT via the controlled conversion path. |
| IXT | IX Token — the settlement and investment-entry token of the IX ecosystem. 1 IXT = £1. IXT is a closed-loop currency recorded on the IX Platform Ledger and is not earned directly on consumer spend. |
| Certified Venue | A hospitality venue (restaurant, bar, hotel, club) certified under the IX 10-pillar framework and fully integrated into the IX ecosystem. |
| Network Venue | A hospitality venue using specific IX services without full ecosystem integration. |
| Membership Tier | Your status in the programme (Explorer or Patron), determined by your subscription. |
| IX Platform Ledger | The internal ledger maintained by IX recording all IXR and IXT balances, transactions and tier status. |
| Three-currency stack | IXR (consumer reward layer) / IXT (settlement and investment-entry layer) / IXF and IXB (investment instruments). |
You may join IX Membership if you are:
Registration is available online at initiativex.co.uk, through the IX app, or at any certified venue. You are responsible for keeping your personal information accurate and up to date.
IX Membership operates a two-tier structure: Explorer (free) and Patron (subscription).
| Tier | Subscription | Earn rate | Preferential pricing | IXR-to-IXT conversion |
|---|---|---|---|---|
| Explorer | Free | 1 IXR per £1 | None | 10 IXR → 1 IXT |
| Patron | £30 per month | 1 IXR per £1 | 10–50% at operator/brand discretion | 10 IXR → 1.10 IXT |
All members earn 1 IXR per £1 of cash spend, excluding VAT and service charge, at IX-certified venues. Minimum spend per qualifying transaction: £5. IXR expire 24 months from the date they are earned if unused. IXR are not redeemable for cash, not transferable between members, and not assignable.
In your birthday month you automatically receive a bonus IXR allocation: Explorer 5 IXR, Patron 25 IXR.
Referral bonuses are available to Patrons only, at the rates published on the Member Portal. Explorers do not receive referral bonuses.
Complete surveys, provide feedback or attend eligible events to earn 10–50 bonus IXR per activity, depending on the activity type.
Share experiences at certified venues on social media with the IX hashtag, or rate venues on the IX app, to earn 5–10 IXR per post or review, up to 50 IXR per month.
Members who want to take their loyalty value beyond venue redemption can convert IXR to IXT under the controlled conversion path:
| Conversion mechanic | Explorer | Patron |
|---|---|---|
| Rate (before fee) | 10 IXR → 1 IXT | 10 IXR → 1.10 IXT |
| Conversion fee | 10%, deducted in IXR before conversion | 10%, deducted in IXR before conversion |
| Net result | 100 IXR → 9 IXT | 100 IXR → 9.90 IXT |
| Minimum conversion | 100 IXR | 100 IXR |
| Aging requirement | IXR must be at least 30 days old | IXR must be at least 30 days old |
| Frequency | Once per calendar month | Once per calendar month |
Conversion is performed in-app, is irreversible, and is subject to ledger confirmation. IXT received via conversion is a settlement and investment-entry instrument — it is not spent at venues for consumer transactions.
Redeem IXR for percentage or fixed-value discounts at certified venues: 100 IXR = 10% discount coupon (depending on venue), valid for 90 days from issue, single-use, non-transferable. Consumer venue redemption uses IXR, not IXT, and is subject to venue compensation rules under the IX Utility Framework.
Redeem IXR for exclusive dining experiences, wine tastings, cooking classes or special events at certified venues: 500–2,000 IXR per experience, depending on experience value.
Redeem IXR for priority reservation slots at certified venues during peak times: 100 IXR = 1 priority reservation (normally a 48-hour slot guarantee).
Redeem IXR for branded merchandise or partner rewards (cinema tickets, hotel stays, travel): 200–500 IXR per reward.
Vested IXT may be withdrawn to cash only under a tiered schedule with a 3-year minimum lock: locked for years 0–3, then up to 5% in years 3–5, 10% in years 5–7, 25% in years 7–10, and unlimited from year 10. Withdrawal is an edge-case right, not a marketed feature of the programme. IXT is never spent at venues for consumer transactions; consumer redemption is via IXR.
IXR redemption is available at any time via the IX app or website. Redemptions confirm immediately, and reward codes or coupons are issued instantly. Redemptions are non-reversible. IXT withdrawals follow the tiered vesting schedule and are subject to ledger checks and KYC/AML requirements.
IXR expire 24 months after the date they were earned unless redeemed, converted to IXT, or refreshed by qualifying activity before that date. If your membership is inactive (no spending for 24 consecutive months), your account is placed in inactive status and IXR stop accruing. You will be given 30 days’ notice before any forfeiture, and you can reactivate your account at any time.
IXR are personal to you and may not be transferred, gifted or sold. Any attempt to transfer IXR will result in account suspension. IXT acquired via conversion is similarly non-transferable under the IX Utility Framework.
IX reserves the right to suspend or cancel IXR and IXT earnings (including converted IXT) if it detects abusive behaviour, including:
If anti-gaming action is taken, you will be notified and given an opportunity to respond before any permanent suspension. IX may withhold, reverse or forfeit IXR and IXT earned through suspected gaming activity. Repeated violations may result in permanent termination and forfeiture of all IXR and IXT.
As a member, you agree to:
IX reserves the right to:
We collect and process your personal data (contact details, transaction and visit data, profile and preference data, device and usage data, and feedback) to administer your membership, calculate and process IXR and IXT, send transactional communications, run opted-in marketing, improve the programme, and meet legal and regulatory obligations. Processing is carried out under UK GDPR on the bases of contract performance, legitimate interests, consent (for marketing) and legal obligation.
You have the right to access, correct, delete, restrict, port and object to the processing of your data, and to opt out of marketing at any time. We do not sell your personal data. Full details, including retention periods and the parties we share data with, are in our Privacy Policy. For any data query, contact hello@initiativex.co.uk.
All IX brand materials, logos, content, technology and intellectual property (including the IX app, website, token design and reward offerings) are owned exclusively by IX. You may not use, copy, modify or redistribute any IX intellectual property without permission.
If you submit content to IX (reviews, photos, feedback), you grant IX a non-exclusive, royalty-free, perpetual licence to use that content for marketing and improving the programme. You remain the copyright owner of your content.
If you have a complaint about your membership or your IXR or IXT balance, contact us at hello@initiativex.co.uk. We will investigate and respond within 15 business days. If you are not satisfied with our response, you may seek independent legal advice, or escalate to the Financial Ombudsman Service if the relevant token classification is determined to be a financial product.
You may cancel your membership at any time, at no cost, by emailing hello@initiativex.co.uk or deleting your account via the app. Cancellation is immediate and irreversible, and any remaining IXR balance is forfeited on cancellation.
IX may suspend or terminate your membership if you breach these terms, engage in abusive behaviour towards IX staff or venues, attempt to manipulate the programme, your payment method is repeatedly declined, or we reasonably suspect illegal activity. We will give notice and a reasonable opportunity to respond, except in cases of suspected fraud where immediate action may be taken.
On termination (by you or by IX), any remaining IXR balance is forfeited. Vested IXT remains subject to the tiered vesting schedule in Section 6.5. No cash redemption or compensation is available for forfeited IXR. If termination is due to IX error rather than your breach, IX may offer a redemption window (typically 30 days) before forfeiture.
IX may change these terms at any time. Changes will be notified via email and in-app notification at least 30 days in advance. Continued use of IX Membership after the change date constitutes acceptance. If you do not accept the changes, you may cancel your membership.
IX Membership is provided "as is". IXR are non-cash reward units; IXT is a settlement and investment-entry instrument. Neither is an investment in itself, and neither carries guaranteed value or liquidity. IX does not guarantee the value of IXR or IXT, that specific rewards or venues will remain available, or that the programme will continue indefinitely.
To the fullest extent permitted by law, IX is not liable for loss of IXR or IXT due to account suspension, technical error or force majeure; loss of profits or indirect or consequential loss; disputes with certified venues; or third-party access to your account. Nothing in these terms limits your legal rights as a consumer (including under the Consumer Rights Act 2015) or excludes liability for death, personal injury or fraud. Claims are otherwise limited to the value of your IXR and IXT balance.
IXR and IXT operate within the IX Membership Programme. Neither IXR nor IXT is:
The regulatory classification of IXR, IXT and related instruments is under review and may change. The programme complies with UK consumer law and data protection law.
Nothing in these terms affects your statutory rights as a consumer under UK consumer protection law, including your right to cancel within 14 days of signing up, rights to refunds where applicable, and your data protection rights.
Your membership includes a Community Recognition score reflecting your engagement with the IX ecosystem, calculated from four components:
| Component | Weight | Description |
|---|---|---|
| Spend frequency | 30% | How often you visit IX-certified venues, weighted by recency |
| Network breadth | 25% | How many different IX-certified venues you have visited |
| Token holdings | 25% | Your IXR and IXT balance from purchases, earnings and conversions |
| Referral impact | 20% | New members you have brought into the ecosystem and their engagement |
Your score is displayed on your member profile in the IX app, updates automatically, and is reviewed quarterly against your rolling 12-month activity.
Entire agreement. These terms constitute the entire agreement between you and IX regarding IX Membership and supersede any previous agreements or communications, including the Explorer Terms & Conditions dated 11 April 2026.
Governing law and jurisdiction. These terms are governed by the law of England and Wales. Any dispute shall be resolved in the courts of England and Wales, or by informal resolution (mediation or negotiation) if both parties agree.
Severance. If any provision is invalid or unenforceable, it is deleted, but the rest of the agreement remains in force.
Contact. For support, privacy questions or complaints: hello@initiativex.co.uk.
By ticking "I agree to the Terms & Conditions" on the IX website, you confirm that you have read, understood, and agree to be bound by these terms. No signature is required.
InitiativeX | initiativex.co.uk
Initiative X Ltd · registered in England & Wales · Company No. 17202264