Onions.lol

onions.lol brings the only commodity future the U.S. government ever outlawed fully onchain. The Onion Futures Act of 1958 made trading onion futures federally illegal - so we built an exchange for exactly that.

Traders deposit stablecoins in a single tap via Blink, then take long or short positions on dated onion futures contracts. Every contract is cash-settled against an on-chain oracle anchored to real USDA Market News data: actual daily wholesale onion prices from U.S. terminal markets. A protocol vault stands as counterparty to each position, so the whole thing runs without an order book or matching engine.

The core is a set of Solidity contracts implementing dated, cash-settled onion futures. Instead of an order book, matching, or liquidation engine, a single protocol vault acts as counterparty to every position - keeping settlement deterministic and gas-cheap. Pricing runs in two layers. Settlement is anchored to a real onion index derived from USDA Market News: we pull daily wholesale terminal-market onion prices from the MyMarketNews (MARS) API and post them on-chain as the settlement oracle. On top of that, we generate a synthetic intraday mark price anchored to the USDA index, so the trading UI feels live between the once-a-day official updates.

For onboarding, we use the Blink SDK to give traders a one-tap stablecoin deposit flow — funding collateral and opening a position without the usual wallet friction. Embedded wallets via Privy handle key management so users never deal with seed phrases. The frontend is a React trading interface showing the mark price, open positions, and contract expiries.