Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When this creature enters, create a number of 1/0 blue Elemental creature tokens equal to your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)

Quest for Ula's Temple

At the beginning of your upkeep, you may look at the top card of your library. If it's a creature card, you may reveal it and put a quest counter on this enchantment.
At the beginning of each end step, if there are three or more quest counters on this enchantment, you may put a Kraken, Leviathan, Octopus, or Serpent creature card from your hand onto the battlefield.

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Simic Ascendancy

{1}{G}{U}: Put a +1/+1 counter on target creature you control.
Whenever one or more +1/+1 counters are put on a creature you control, put that many growth counters on this enchantment.
At the beginning of your upkeep, if this enchantment has twenty or more growth counters on it, you win the game.

Herald of Secret Streams

Creatures you control with +1/+1 counters on them can't be blocked.

Stormtide Leviathan

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
All lands are Islands in addition to their other types.
Creatures without flying or islandwalk can't attack.

Silvergill Adept

As an additional cost to cast this spell, reveal a Merfolk card from your hand or pay {3}.
When this creature enters, draw a card.

Merrow Reejerey

Other Merfolk creatures you control get +1/+1.
Whenever you cast a Merfolk spell, you may tap or untap target permanent.

Thrasios, Triton Hero

{4}: Scry 1, then reveal the top card of your library. If it's a land card, put it onto the battlefield tapped. Otherwise, draw a card.
Partner (You can have two commanders if both have partner.)

Benthic Biomancer

{1}{U}: Adapt 1. (If this creature has no +1/+1 counters on it, put a +1/+1 counter on it.)
Whenever one or more +1/+1 counters are put on this creature, draw a card, then discard a card.

Stonybrook Banneret

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Merfolk spells and Wizard spells you cast cost {1} less to cast.

Lullmage Mentor

Whenever a spell or ability you control counters a spell, you may create a 1/1 blue Merfolk creature token.
Tap seven untapped Merfolk you control: Counter target spell.

Shipbreaker Kraken

{6}{U}{U}: Monstrosity 4. (If this creature isn't monstrous, put four +1/+1 counters on it and it becomes monstrous.)
When this creature becomes monstrous, tap up to four target creatures. Those creatures don't untap during their controllers' untap steps for as long as you control this creature.

Tideshaper Mystic

{T}: Target land becomes the basic land type of your choice until end of turn. Activate only during your turn.

Lord of Atlantis

Other Merfolk get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Kindred Discovery

As this enchantment enters, choose a creature type.
Whenever a creature you control of the chosen type enters or attacks, draw a card.

Hullbreaker Horror

Flash
This spell can't be countered.
Whenever you cast a spell, choose up to one —
• Return target spell you don't control to its owner's hand.
• Return target nonland permanent to its owner's hand.

Scourge of Fleets

When this creature enters, return each creature your opponents control with toughness X or less to its owner's hand, where X is the number of Islands you control.

Kumena, Tyrant of Orazca

Tap another untapped Merfolk you control: Kumena can't be blocked this turn.
Tap three untapped Merfolk you control: Draw a card.
Tap five untapped Merfolk you control: Put a +1/+1 counter on each Merfolk you control.

Slinn Voda, the Rising Deep

Kicker {1}{U} (You may pay an additional {1}{U} as you cast this spell.)
When Slinn Voda enters, if it was kicked, return all creatures to their owners' hands except for Merfolk, Krakens, Leviathans, Octopuses, and Serpents.

Fallowsage

Whenever this creature becomes tapped, you may draw a card.

Brinelin, the Moon Kraken

When Brinelin enters and whenever you cast a spell with mana value 6 or greater, you may return target nonland permanent to its owner's hand.
Partner (You can have two commanders if both have partner.)

Silvergill Douser

{T}: Target creature gets -X/-0 until end of turn, where X is the number of Merfolk and/or Faeries you control.

Jade Bearer

When this creature enters, put a +1/+1 counter on another target Merfolk you control.

Deep-Sea Kraken

This creature can't be blocked.
Suspend 9—{2}{U} (Rather than cast this card from your hand, you may pay {2}{U} and exile it with nine time counters on it. At the beginning of your upkeep, remove a time counter. When the last is removed, you may cast it without paying its mana cost. It has haste.)
Whenever an opponent casts a spell, if this card is suspended, remove a time counter from it.

Nadir Kraken

Whenever you draw a card, you may pay {1}. If you do, put a +1/+1 counter on this creature and create a 1/1 blue Tentacle creature token.

Biomass Mutation

Creatures you control have base power and toughness X/X until end of turn.

Serpent of Yawning Depths

Krakens, Leviathans, Octopuses, and Serpents you control can't be blocked except by Krakens, Leviathans, Octopuses, and Serpents.

Thassa, God of the Sea

Indestructible
As long as your devotion to blue is less than five, Thassa isn't a creature. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)
At the beginning of your upkeep, scry 1.
{1}{U}: Target creature you control can't be blocked this turn.

Kumena's Speaker

This creature gets +1/+1 as long as you control another Merfolk or an Island.

Merrow Commerce

At the beginning of your end step, untap all Merfolk you control.

Bounty of the Luxa

At the beginning of your first main phase, remove all flood counters from this enchantment. If no counters were removed this way, put a flood counter on this enchantment and draw a card. Otherwise, add {C}{G}{U}.

Kopala, Warden of Waves

Spells your opponents cast that target a Merfolk you control cost {2} more to cast.
Abilities your opponents activate that target a Merfolk you control cost {2} more to activate.

Stormsurge Kraken

Hexproof
Lieutenant — As long as you control your commander, this creature gets +2/+2 and has "Whenever this creature becomes blocked, you may draw two cards."

Cold-Eyed Selkie

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever this creature deals combat damage to a player, you may draw that many cards.

Tromokratis

Tromokratis has hexproof unless it's attacking or blocking.
Tromokratis can't be blocked unless all creatures defending player controls block it. (If any creature that player controls doesn't block this creature, it can't be blocked.)