Kobo is in the process of finalizing a new loyalty program that will give you points whenever you purchase an e-book. These points can be redeemed to get free content from Kobo.
The exact logistics of the program is currently unknown but it looks like Kobo will be introducing a free tier where you earn 4 points for every $5.00 you spend and a paid VIP Tier where you earn double points on everything you purchase and save an additional 10% off during Kobo promotions. During certain times of the year Kobo will also be running KoboLove Bonus Days, where both the free and paid tier will get double the normal points.
The semantics of KoboLove should be publicly released in the coming weeks, right now we only have traces of the loyalty program that were spotted in a recent firmware update for some of their e-readers.