Mutavault

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

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.)

Dismember

({B/P} can be paid with either {B} or 2 life.)
Target creature gets -5/-5 until end of turn.

Merrow Reejerey

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

Lord of Atlantis

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

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 Benthic Biomancer, draw a card, then discard a card.

Counterspell

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.

Harbinger of the Tides

You may cast Harbinger of the Tides as though it had flash if you pay {2} more to cast it. (You may cast it any time you could cast an instant.)
When Harbinger of the Tides enters, you may return target tapped creature an opponent controls to its owner's hand.

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.)

Spreading Seas

Enchant land
When Spreading Seas enters, draw a card.
Enchanted land is an Island.

Fiery Islet

{T}, Pay 1 life: Add {U} or {R}.
{1}, {T}, Sacrifice Fiery Islet: Draw a card.

Merfolk Trickster

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