In a large pan heated to medium, add 1 tablespoon Olive Oil.
Thinly slice the sweet onion. When the pan is hot, add the onion and pinch of salt. Stirring occasionally. Cook for about 30-40 minutes. If onions begin to brown too quickly, turn down the heat. If onions start to dry out, add a splash of water.
In the meantime, boil the cashews for 20 minutes to soften. If your cashews have been soaked overnight, skip this step.
Add the cashews, no chicken broth, fresh lemon juice, nutritional yeast, tapioca flour, salt, garlic powder, onion powder, and pepper to a blender.
Blend until smooth. Touch the mixture and rub it between two fingers. If the cheese dip has any texture, keep blending.
When the onions are about done caramelizing, add in the sugar and another pinch of salt.
When the onions are deep brown color and caramelized to your preference, add in the fresh thyme. Mix to incorporate and then add the smooth cashew sauce.
Stir until the sauce has thickened. If it gets too thick, add a splash of water.
Serve with bread, crackers, or veggies! Enjoy.