What is Cocoa Touch Static Library Template used for?

Outlets connect your interface to the code by letting you refer to the items in your interface by name. Outlets create variables in your code that you can use to work with the UI widgets.

Highlight your code - Click on 'Editor->Structure->Re-indent'.

Building libraries of code that you can share amongst multiple projects.

Allows you to use Interface Builder to lay out all of the screens in your program and define the transitions between them.