diff --git a/entities/internet-finance/p2p-me.md b/entities/internet-finance/p2p-me.md
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+---
+type: entity
+entity_type: company
+name: P2P.me
+domain: internet-finance
+status: active
+founded: 2024
+headquarters: India
+---
+
+# P2P.me
+
+## Overview
+
+Non-custodial USDC-to-fiat on/off ramp built on Base, targeting emerging markets with peer-to-peer crypto-to-fiat conversion.
+
+## Key Metrics (as of March 2026)
+
+- **Users:** 23,000+ registered
+- **Geography:** India (78%), Brazil (15%), Argentina, Indonesia
+- **Volume:** Peaked $3.95M monthly (February 2026)
+- **Revenue:** ~$500K annualized
+- **Gross Profit:** ~$82K annually (after costs)
+- **Team Size:** 25 staff
+- **Monthly Burn:** $175K ($75K salaries, $50K marketing, $35K legal, $15K infrastructure)
+
+## ICO Details
+
+- **Platform:** MetaDAO
+- **Raise Target:** $6M
+- **FDV:** ~$15.5M
+- **Token Price:** $0.60
+- **Tokens Sold:** 10M
+- **Total Supply:** 25.8M
+- **Liquid at Launch:** 50%
+- **Team Unlock:** Performance-based, no benefit below 2x ICO price
+- **Scheduled Date:** March 26, 2026
+
+## Business Model
+
+- B2B SDK deployment potential
+- Circles of Trust merchant onboarding for geographic expansion
+- On-chain P2P with futarchy governance
+
+## Governance
+
+Treasury controlled by token holders through futarchy-based governance. Team cannot unilaterally spend raised capital.
+
+## Timeline
+
+- **2024** — Founded
+- **Mid-2025** — Active user growth plateaus
+- **February 2026** — Peak monthly volume of $3.95M
+- **March 15, 2026** — Pine Analytics publishes pre-ICO analysis identifying 182x gross profit multiple concern
+- **March 26, 2026** — ICO scheduled on MetaDAO
diff --git a/entities/internet-finance/pine-analytics.md b/entities/internet-finance/pine-analytics.md
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+++ b/entities/internet-finance/pine-analytics.md
@@ -21,6 +21,7 @@ Pine Analytics (@PineAnalytics) is the most credible independent research source
 - **2025-Q4** — Published MetaDAO quarterly analysis
 - **2026-02-26** — Published "The FairScale Saga: A Case Study in Early-Stage Futarchy"
 
+- **March 15, 2026** — Published pre-ICO analysis of P2P.me identifying 182x gross profit multiple valuation concern, user growth plateau, and runway constraints
 ## Key Research
 
 ### FairScale Case Study (2026-02-26)