There are three ways for you to drive the flywheel if you have a stationary exercise bike. You have the belt, the chain or direct system. It’s very easy for you to know which one you have on your bike.
If your pedals are in the same place as the wheel, you have the direct version. If you notice that your wheel is not in the same place as your pedals then you have a chain or belt. A belt drive is essentially a rubber or Poly-V belt with numerous small teeth. This connects the pedals with the flywheel. The drive belt needs a bit of maintenance now and again, but if you keep it clean then most of the work is done. Clean off any dust, and wipe it down now and again.
If you have a chain then a bit more maintenance is required. A chain drive is a bit more sensitive. It needs some cleaning and some lubrication too. If you want to lubricate your chain then take off the guard and then clean the chain with some chain cleaner. You can also use a Teflon lubricant or WD-40. If you are spraying your lubricant, put a piece of cardboard behind the chain. When you have done this, spin the flywheel or move the pedals.
As it’s spinning, spray the chain. This will distribute the solution over the chain as uniformly as possible. When you have sprayed it all down, wait a good 10 minutes and then wipe off any excess.