Developers of the Rhetor (RT) token said Wednesday they have completed what they describe as the first fully on-chain migration of a live asset from the Pump Fun launchpad to the newly created Bonk Fun platform on the Solana blockchain. The switch preserved existing wallet balances and allowed trading to continue without interruption, according to the project team. The transfer highlights intensifying competition among Solana-based launchpads. Market participants including trading firm CMS Holdings and decentralized exchange Raydium have publicly signalled support for Bonk Fun, saying the platform is drawing liquidity away from Pump Fun. Observers expect additional tokens to follow Rhetor as developers weigh fees, tooling and community backing in what some call the emerging "launchpad wars."