diff --git a/packages/fast-usdc/test/fast-usdc.contract.test.ts b/packages/fast-usdc/test/fast-usdc.contract.test.ts
index d9b6912ee7d..f2cdd2698e2 100644
--- a/packages/fast-usdc/test/fast-usdc.contract.test.ts
+++ b/packages/fast-usdc/test/fast-usdc.contract.test.ts
@@ -24,7 +24,7 @@ import {
 import type { Instance } from '@agoric/zoe/src/zoeService/utils.js';
 import { setUpZoeForTest } from '@agoric/zoe/tools/setup-zoe.js';
 import { E } from '@endo/far';
-import { objectMap } from '@endo/patterns';
+import { matches, objectMap } from '@endo/patterns';
 import path from 'path';
 import type { ScopedBridgeManager } from '@agoric/vats';
 import { makePromiseKit } from '@endo/promise-kit';
@@ -36,6 +36,7 @@ import { addressTools } from '../src/utils/address.js';
 import { makeFeeTools } from '../src/utils/fees.js';
 import { MockCctpTxEvidences } from './fixtures.js';
 import { commonSetup } from './supports.js';
+import { PoolMetricsShape } from '../src/type-guards.js';
 
 const dirname = path.dirname(new URL(import.meta.url).pathname);
 
@@ -618,6 +619,9 @@ const makeCustomer = (
     ) => {
       const evidence = sent.shift();
       if (!evidence) throw t.fail('nothing sent');
+
+      // C3 - Contract MUST calculate AdvanceAmount by ...
+      // Mostly, see unit tests for calculateAdvance, calculateSplit
       const toReceive = forward
         ? { value: evidence.tx.amount }
         : feeTools.calculateAdvance(AmountMath.make(USDC, evidence.tx.amount));
@@ -630,6 +634,7 @@ const makeCustomer = (
       const { EUD } = addressTools.getQueryParams(
         evidence.aux.recipientAddress,
       );
+
       const myMsg = local.find(lm => {
         if (lm.type !== 'VLOCALCHAIN_EXECUTE_TX') return false;
         const [ibcTransferMsg] = lm.messages;
@@ -644,10 +649,14 @@ const makeCustomer = (
         throw t.fail(`no MsgTransfer to ${EUD}`);
       }
       const [ibcTransferMsg] = myMsg.messages;
-      t.deepEqual(ibcTransferMsg.token, {
-        amount: String(toReceive.value),
-        denom: uusdcOnAgoric,
-      });
+      // C4 - Contract MUST release funds to the end user destination address
+      // in response to invocation by the off-chain watcher that
+      // an acceptable Fast USDC Transaction has been initiated.
+      t.deepEqual(
+        ibcTransferMsg.token,
+        { amount: String(toReceive.value), denom: uusdcOnAgoric },
+        'C4',
+      );
 
       t.log(who, 'sees', ibcTransferMsg.token, 'sent to', EUD);
       // TODO #10445 expect PFM memo
@@ -683,7 +692,20 @@ test.serial('OCW operators redeem invitations and start watching', async t => {
 
 // TODO: replace test.serial() with promise synchronization?
 
-test.serial('customer tries before LPs provide liquidity', async t => {
+test.serial('STORY09: Fast USDC off: insufficient liquidity', async t => {
+  const {
+    common: {
+      commonPrivateArgs: { feeConfig },
+    },
+    evm: { cctp, txPub },
+    startKit: { metricsSub },
+  } = t.context;
+  const early = makeCustomer('Unice', cctp, txPub.publisher, feeConfig, t);
+  const available = await early.checkPoolAvailable(5_000_000n, metricsSub);
+  t.false(available);
+});
+
+test.serial('C20 - customer tries before LPs provide liquidity', async t => {
   const {
     common: {
       commonPrivateArgs: { feeConfig },
@@ -708,7 +730,7 @@ test.serial('customer tries before LPs provide liquidity', async t => {
   // fulfilled" in the test output.
 });
 
-test.serial('LPs deposit USDC', async t => {
+test.serial('C25 - LPs deposit USDC', async t => {
   const {
     startKit: { zoe, instance, metricsSub },
     common: {
@@ -718,6 +740,7 @@ test.serial('LPs deposit USDC', async t => {
     sync,
   } = t.context;
   const usdcPurse = purseOf(usdc.issuer, utils);
+  // C25 - MUST support multiple liquidity providers
   const lp = {
     lp50: makeLP('Logan', usdcPurse(50_000_000n), zoe, instance, t),
     lp200: makeLP('Larry', usdcPurse(200_000_000n), zoe, instance, t),
@@ -743,7 +766,7 @@ test.serial('LPs deposit USDC', async t => {
   t.deepEqual(poolBalance, make(usdc.brand, 250_000_000n + balance0.value));
 });
 
-test.serial('advancing happy path for 100 USDC', async t => {
+test.serial('STORY01: advancing happy path for 100 USDC', async t => {
   const {
     common: {
       brands: { usdc },
@@ -804,6 +827,10 @@ test.serial('advancing happy path for 100 USDC', async t => {
 
   await mint(sent1);
 
+  // C8 - "Contract MUST be able to initialize settlement process when Noble mints USDC."
+  // The metrics are a useful proxy, but the contract could lie.
+  // The real test of whether the contract turns minted funds into liquidity is
+  // the ability to advance the funds (in later tests).
   const split = calculateSplit(usdc.make(sent1.tx.amount));
   t.like(
     await E(metricsSub)
@@ -824,20 +851,44 @@ test.serial('advancing happy path for 100 USDC', async t => {
   );
 });
 
-test.serial('LP withdraws part; collects fees on 100 USDC', async t => {
+test.todo(
+  'PERF: Target: settlement completes in a few minutes (after USDC is minted)',
+);
+
+// most likely in exo unit tests
+test.todo(
+  'C21 - Contract MUST log / timestamp each step in the transaction flow',
+);
+
+test.serial('STORY03: see accounting metrics', async t => {
   const {
-    sync,
     common: {
       brands: { usdc },
-      commonPrivateArgs: { feeConfig },
     },
+    startKit: { metricsSub },
   } = t.context;
+  const { value: metrics } = await E(metricsSub).getUpdateSince();
 
-  const { calculateSplit } = makeFeeTools(feeConfig);
-  const split = calculateSplit(usdc.make(100_000_000n));
+  t.log(metrics);
+  t.true(matches(metrics, PoolMetricsShape));
+});
+test.todo('document metrics storage schema');
+test.todo('get metrics from vstorage');
+
+test.serial('STORY05: LP collects fees on 100 USDC', async t => {
+  const {
+    sync,
+    common: {
+      brands: { usdc },
+    },
+  } = t.context;
 
   const lp = await sync.lp.promise;
   const got = await E(lp.lp200).withdraw(0.5); // redeem 1/2 my shares
+
+  // C3 - Contract MUST calculate ...
+  // Mostly, see unit tests for calculateAdvance, calculateSplit
+  // TODO: add a feeTools unit test for the magic number below.
   t.deepEqual(got, add(usdc.units(100), usdc.make(691_200n)));
 
   await E(lp.lp200).deposit(100_000_000n); // put all but the fees back in
@@ -879,6 +930,13 @@ test.serial('racers', async t => {
   await Promise.all([mint(sent1), mint(sent2), mint(sent3)]);
 });
 
+// advancedEarly stuff
+test.todo(
+  'C12 - Contract MUST only pay back the Pool only if they started the advance before USDC is minted',
+);
+
+test.todo('C18 - forward - MUST log and alert these incidents');
+
 test.serial('Settlement for unknown transaction (operator down)', async t => {
   const {
     sync,