01 - Peel the onions and slice into ½-inch thick rings. Separate individual rings and set aside.
02 - In a medium bowl, combine all-purpose flour, baking powder, salt, and smoked paprika; whisk well.
03 - In a separate bowl, beat the eggs with buttermilk until fully blended.
04 - Place panko breadcrumbs in a third bowl ready for coating.
05 - Dip each onion ring first into the flour mixture, then into the egg-buttermilk blend, and finally coat thoroughly with panko. Arrange coated rings on a tray.
06 - Preheat the air fryer to 400°F for 3 minutes.
07 - Place onion rings in a single layer in the air fryer basket, spraying lightly with cooking spray. Cook for 10 to 12 minutes, turning halfway through, until golden and crisp. Work in batches if necessary.
08 - While onion rings cook, mix all dipping sauce ingredients in a small bowl until smooth. Chill until ready to serve.
09 - Serve the hot, crispy onion rings alongside the chilled dipping sauce.