Here's some more information about ipoints and the LoveHoney Loyalty Programme.
In short, it's like Airmiles or Nectar points for the Internet.
If you join the scheme, you get 10 ipoints for every £1 you spend at LoveHoney.
You can also earn ipoints by shopping at the sites featured on the ipoints Web site.
And when you've earned a load of points, you can spend them on goodies on the ipoints site.
You can't currently spend them on products from LoveHoney, but you will be able to soon. 
In short, it's another good reason to shop at LoveHoney!