Abstract: An improved cycle transmission comprising 1) a freewheel cluster rotatably coupled to the rear wheel of a bicycle and in axial alignment with the rear wheel axle; 2) a crank assembly having one or more laterally moveable chain rings rotatably coupled to a front section of the bicycle frame and in axial alignment with the pedal axle; and 3) a drive chain entrained around both the freewheel and chain ring. In a first embodiment, the crank assembly comprises a single chain ring which is laterally moveable with respect to the cycle frame. Lateral movement of the chain ring occurs in direct response to changes in the position of the drive chain on the freewheel cluster. The lateral movement of the chain ring allows the drive chain to maintain itself within a single plane relative to the chosen freewheel sprocket, thereby eliminating lateral bias.