The code does appear to be open source, but on iOS devices there is NO WAY to ensure the code that's on the GitHub page [2] is what's running on your device, and sideloading isn't a realistic option either.
[2]: https://github.com/onionbrowser/onionbrowser
CORRECTION: As child comments point out, it appears that this app is loosely affiliated with the Tor project, and is recommended by them.