The localizable.strings contains various text strings that are spread throughout the app, with the following format:
"pugpig_a_tag_name" = "The copy that will appear in the app."
Keep the tag names as they are, and if you would like the text to be blank, leave an empty string ("") on the left-hand side. Do not remove the tag, as this may cause the tag to appear in the app.
Not all localizable strings are included in this file by default, but all the text can be overridden using the appropriate key, a complete list of which is available here.