Lord of Atlantis

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

Merrow Reejerey

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

Tide Shaper

Kicker {1} (You may pay an additional {1} as you cast this spell.)
When Tide Shaper enters, if it was kicked, target land becomes an Island for as long as Tide Shaper remains on the battlefield.
Tide Shaper gets +1/+1 as long as an opponent controls an Island.

Suspend

Exile target creature and put two time counters on it. If it doesn't have suspend, it gains suspend. (At the beginning of its owner's upkeep, they remove a time counter. When the last is removed, they may play it without paying its mana cost. If it's a creature, it has haste.)

Glasspool Shore

Glasspool Shore enters tapped.
{T}: Add {U}.

Glasspool Mimic

You may have Glasspool Mimic enter as a copy of a creature you control, except it's a Shapeshifter Rogue in addition to its other types.

Glasspool Mimic // Glasspool Shore

Merfolk Trickster

Flash
When Merfolk Trickster enters, tap target creature an opponent controls. It loses all abilities until end of turn.

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.)

Island

Chalice of the Void

Chalice of the Void enters with X charge counters on it.
Whenever a player casts a spell with mana value equal to the number of charge counters on Chalice of the Void, counter that spell.

Aether Vial

At the beginning of your upkeep, you may put a charge counter on Aether Vial.
{T}: You may put a creature card with mana value equal to the number of charge counters on Aether Vial from your hand onto the battlefield.

Counterspell

Svyelun of Sea and Sky

Svyelun of Sea and Sky has indestructible as long as you control at least two other Merfolk.
Whenever Svyelun attacks, draw a card.
Other Merfolk you control have ward {1}. (Whenever another Merfolk you control becomes the target of a spell or ability an opponent controls, counter it unless that player pays {1}.)

Cavern of Souls

As Cavern of Souls enters, choose a creature type.
{T}: Add {C}.
{T}: Add one mana of any color. Spend this mana only to cast a creature spell of the chosen type, and that spell can't be countered.

Minamo, School at Water's Edge

{T}: Add {U}.
{U}, {T}: Untap target legendary permanent.

Relic of Progenitus

{T}: Target player exiles a card from their graveyard.
{1}, Exile Relic of Progenitus: Exile all graveyards. Draw a card.

Waterlogged Grove

{T}, Pay 1 life: Add {G} or {U}.
{1}, {T}, Sacrifice Waterlogged Grove: Draw a card.

Mutavault

{T}: Add {C}.
{1}: Mutavault becomes a 2/2 creature with all creature types until end of turn. It's still a land.

Cursecatcher

Sacrifice Cursecatcher: Counter target instant or sorcery spell unless its controller pays {1}.

Silvergill Adept

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

Cursed Totem

Activated abilities of creatures can't be activated.

Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When Master of Waves 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.)