Legal clarity and audit readiness are key to the ONION token launch. This section outlines the structure, jurisdiction, and compliance roadmap for Q2 2025 and beyond.
🏛️ ONION Foundation — Legal Structure
- Entity will be formed in Finland, aligned with EU standards
- Initially structured as a non-profit association or foundation
- Purpose: act as a legal steward for ONION treasury, DAO execution, and ecosystem coordination
- May evolve into a token-holding foundation or DAO-registered entity as laws permit
🌍 Jurisdiction & Regulatory Compliance
| Region | Relevance | Action Status |
|---|---|---|
| 🇪🇺 European Union | Primary base (Finland) | Legal opinion aligned with MiCA draft legislation |
| 🇺🇸 United States | Limited exposure | Excluded from direct participation in early sales |
| 🌏 Global Access | Focus on compliant, non-restricted markets | T&Cs will include geo-restriction clauses |
- Token distributions will exclude sanctioned countries and U.S. residents
- Partners and investors will complete jurisdictional compliance checks
🧾 Legal Opinion Scope
- Focused on MiCA interpretation of utility and governance tokens
- Classifies ONION as a non-financial utility token, used for:
- Participation (airdrops, event access)
- Governance (DAO voting)
- Rewards (staking, loyalty)
- Prepared by a Finnish-based crypto legal advisor
- Final version expected by late May 2025
📄 Terms & Conditions (T&Cs)
- Applies to:
- Genesis ONION NFT participants
- Airdrop claimants
- Token sale purchasers (partner/private/public rounds)
- Includes:
- ✅ Jurisdiction & liability disclosures
- ✅ Waiver of U.S. and restricted territories
- ✅ Risks of token value fluctuation
- ✅ Rules for using claim app, staking, and DAO
- Draft Status: Internal review phase
- Finalization Date: Targeted for release before May 15, prior to presale snapshot
🔐 Smart Contract Audit
| Area | Audit Status |
|---|---|
| ONION Token Contract | ✅ Scheduled May 2025 (TON-compatible audit firm) |
| Claim App & UI | 🔄 Internal review |
| Merge + Airdrop Logic | 🔄 Pending integration test |
| Staking Contracts | 🔁 Leveraging audited TONStakers base |
All contracts to be published on GitHub at or before TGE.