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}.)

Waterlogged Grove

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

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.

Spreading Seas

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

Merfolk Trickster

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

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.

Lord of Atlantis

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

Island

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.)

Oboro, Palace in the Clouds

{T}: Add {U}.
{1}: Return Oboro, Palace in the Clouds to its owner's hand.

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.

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

Archmage's Charm

Choose one —
• Counter target spell.
• Target player draws two cards.
• Gain control of target nonland permanent with mana value 1 or less.

Otawara, Soaring City

{T}: Add {U}.
Channel — {3}{U}, Discard Otawara, Soaring City: Return target artifact, creature, enchantment, or planeswalker to its owner's hand. This ability costs {1} less to activate for each legendary creature you control.

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.

Minamo, School at Water's Edge

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

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.)

Subtlety

Flash
Flying
When Subtlety enters, choose up to one target creature spell or planeswalker spell. Its owner puts it on their choice of the top or bottom of their library.
Evoke—Exile a blue card from your hand.