Newton has, historically, covered network fees — however when we started doing this it was rare for us to pay more than $1 per transaction. This is obviously not sustainable at current fee levels. To combat this, we've rolled out a new program that we're calling "Surge Pricing".
Basically, we'll cover the first $5 in network fees for crypto withdrawals, and anything beyond that will come out of the withdrawal amount. It's important to note that:
When network fees are at normal (historical) levels, withdrawals will still be free. When markets are exploding like they are today and fees shoot up, you'll be presented with a clear summary of the network fees before you confirm a transaction, but we'll still help a little with the fees.
Seriously. Any and all feedback is welcome. We've created a post on our subreddit where we encourage you to contribute your thoughts. Our goal is to keep providing a great, low-cost service, but obviously we can't continue to completely cover fees when they rise to such unprecedented levels.
We're hopeful that layer 2 solutions will start to take off this year and transaction fees will fall dramatically. Until then, we'll continue to find solutions to ease the burden.