What is a Smart Contract

This page is a Fittyx learning article. It explains what a smart contract is and how that idea relates to this platform. Fittyx is a centralized exchange for spot, perpetual futures, options and copy trading. Placing an order here is not deploying your own on-chain contract. Trading still requires a logged-in account.

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What a smart contract is

A smart contract is a program stored on a blockchain. When its conditions are met, the network runs the code. Unlike a paper contract, it is not enforced by a court on this page; it is executed by the network that hosts it.

In other words, a smart contract is software. It does what the code says. Ethereum is a well-known network that hosts many such programs. Other networks use different rules.

How they usually work

Typical smart contracts follow an if-then pattern. The details belong to each network, not to this public article.

The code is published on a blockchain and can be inspected by anyone who reads that chain.
When a defined condition is met, the program runs without a human clicking approve in a courtroom.
That does not make intermediaries disappear from every product. Fittyx still matches orders on the platform after you sign in.

How this relates to Fittyx

Fittyx is a centralized exchange, not a decentralized exchange (DEX). Spot, perpetual futures, options and copy-trading orders are matched on the platform. You are not writing or deploying a custom on-chain contract when you click buy or sell.

You hold an exchange account. Balances after a deposit are the platform's ledger of assets you can trade, withdraw or use in supported products.

Deposits, withdrawals and on-chain networks

Some assets you deposit or withdraw live on networks that use smart contracts, for example token contracts. Network fees, confirmation times and contract addresses belong to that network. Follow the address and network shown in your Fittyx wallet. Do not send assets to an address or network the platform did not display.

Risk

Smart-contract code on public networks can contain bugs. Asset prices can move quickly. You can lose money. This article is not investment advice and is not a guide to writing or auditing contracts. Read the User Agreement and the Security Guide. Never share your password or seed phrase. Fittyx support will not ask for them.

Frequently asked questions

What is a smart contract?

It is a program stored on a blockchain that runs when its conditions are met. It is software on a network, not a court document on this page.

Is Fittyx a DEX?

No. Fittyx is a centralized exchange. Matching for spot, perpetual futures, options and copy trading happens on the platform after you sign in.

Do my Fittyx orders run as smart contracts?

No. Buy and sell orders on Fittyx are platform orders, not custom on-chain contracts you deploy yourself.

How do smart contracts relate to deposits and withdrawals?

Some supported assets live on networks that use smart contracts. Use the address and network shown in your Fittyx wallet. Network fees and confirmation times belong to that network.

Can smart contracts have bugs?

Yes. Code on a public network can fail or be exploited. This page does not audit any contract. Treat on-chain transfers as irreversible once confirmed.

Will Fittyx support ask for my seed phrase?

No. Support will not ask for your password or seed phrase. If someone does, it is not Fittyx. Read the Security Guide.