This PR claims to implement an on-chain governance system with proposals, voting, and execution, but only adds a placeholder documentation file. No actual implementation exists. According to the requirements in docs/RELEASE_REQUIREMENTS.md (RC3-005), this feature should include:

1. Proposal System for parameter changes, treasury spending, and protocol upgrades
2. Voting Mechanism with token-weighted voting (1 CELL = 1 vote), delegation support, and optional quadratic voting
3. Execution with timelock delay, emergency cancel, and multi-sig guardian

None of these components are implemented in this PR. The codebase currently has no:

• bitcell-governance crate or module
• Proposal data structures
• Voting mechanism (beyond finality votes for consensus)
• Execution system for governance proposals
• Tests for governance functionality

This appears to be an incomplete or placeholder PR that should not be merged.

The reference "Ref: #63" is unclear without context. If this refers to a GitHub issue, the proper format should be a full URL or a more specific reference like "See issue #63 for requirements" or "Tracking: https://github.com/[org]/[repo]/issues/63". Additionally, since this is a placeholder document, it should clearly state that this is NOT an implementation but rather a tracking document.

The phrase "Work in progress by Emulated Coder" is vague and provides no useful information about the actual status, timeline, or scope of the work. If this is genuinely a work-in-progress, the documentation should include:

• What components are planned
• What has been completed (if any)
• Expected completion timeline
• Links to relevant design documents or specifications

Alternatively, if no work has actually begun, this file should not exist in the repository as it provides no value and creates confusion about the project's actual capabilities.