Lochpin, a small town stationed just by the coast. The town is painfully normal, quiet and peaceful. Crime rate is low and it's the kind of place where everyone knows each other and where you'd rise your family. The town mostly survives on some small scale tourism and a lot of fishing. The only notable thing that sets it apart and makes it somewhat a unique place is the giant aquarium which is even more impressive when one considers the size of the town. Things quickly take a turn for the worse tho when the town gets a new inhabitant. Glen Kramer, a somewhat eccentric but seemingly kind man. With him he carries a book called the Armaticon or "The Book of Dead Waters", something which could very well be considered the little brother of the Necronomicon. Most specializing in water demons and the evils that lurk below the waves.
Kramer views himself as a "top class occultist" though the knowledge you get off the internet and a doomsday book make a rather poor combination in the hands of someone with a massive inferiority complex. Things quickly get out of hand and the town is sent into a downwards spiral of watery death and despair.
Note that very early on the RP will have the town sink deep under water with it's own artificial atmosphere. Enemies will range from fodders, to mini-bosses, large godzilla rip-offs and one final humanoid horror. All of them will have a good dose of Lovecraft in them tho.
So, who's afraid of the deeps?