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.

Sol Ring

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.

Lord of Atlantis

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

High Tide

Until end of turn, whenever a player taps an Island for mana, that player adds an additional {U}.

Thada Adel, Acquisitor

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever Thada Adel, Acquisitor deals combat damage to a player, search that player's library for an artifact card and exile it. Then that player shuffles. Until end of turn, you may play that card.

Counterbalance

Whenever an opponent casts a spell, you may reveal the top card of your library. If you do, counter that spell if it has the same mana value as the revealed card.

Rewind

Counter target spell. Untap up to four lands.

Reality Shift

Exile target creature. Its controller manifests the top card of their library. (That player puts the top card of their library onto the battlefield face down as a 2/2 creature. If it's a creature card, it can be turned face up any time for its mana cost.)

Merrow Reejerey

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

Vodalian Hexcatcher

Flash
Other Merfolk you control get +1/+1.
Sacrifice a Merfolk: Counter target noncreature spell unless its controller pays {1}.

Dissipate

Counter target spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard.

Saw It Coming

Counter target spell.
Foretell {1}{U} (During your turn, you may pay {2} and exile this card from your hand face down. Cast it on a later turn for its foretell cost.)

Dispel

Merfolk Sovereign

Other Merfolk creatures you control get +1/+1.
{T}: Target Merfolk creature can't be blocked this turn.

Aetherize

Return all attacking creatures to their owner's hand.

Mana Drain

Counter target spell. At the beginning of your next main phase, add an amount of {C} equal to that spell's mana value.

Cryptic Command

Choose two —
• Counter target spell.
• Return target permanent to its owner's hand.
• Tap all creatures your opponents control.
• Draw a card.

Emperor Mihail II

You may look at the top card of your library any time.
You may cast Merfolk spells from the top of your library.
Whenever you cast a Merfolk spell, you may pay {1}. If you do, create a 1/1 blue Merfolk creature token.

Disallow

Counter target spell, activated ability, or triggered ability. (Mana abilities can't be targeted.)

Neutralize

Counter target spell.
Cycling {2} ({2}, Discard this card: Draw a card.)

Stifle

Counter target activated or triggered ability. (Mana abilities can't be targeted.)

Reflections of Littjara

As Reflections of Littjara enters, choose a creature type.
Whenever you cast a spell of the chosen type, copy that spell. (A copy of a permanent spell becomes a token.)

Thassa's Rebuff

Counter target spell unless its controller pays {X}, where X is your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)

Disdainful Stroke

Counter target spell with mana value 4 or greater.

Pongify

Destroy target creature. It can't be regenerated. Its controller creates a 3/3 green Ape creature token.

Foil

You may discard an Island card and another card rather than pay this spell's mana cost.
Counter target spell.

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}.)

Swan Song

Counter target enchantment, instant, or sorcery spell. Its controller creates a 2/2 blue Bird creature token with flying.

Engulf the Shore

Return to their owners' hands all creatures with toughness less than or equal to the number of Islands you control.

Rapid Hybridization

Destroy target creature. It can't be regenerated. That creature's controller creates a 3/3 green Frog Lizard creature token.

Flow of Knowledge

Draw a card for each Island you control, then discard two cards.

Arcane Signet

{T}: Add one mana of any color in your commander's color identity.

Seafloor Oracle

Whenever a Merfolk you control deals combat damage to a player, draw a card.

Counterspell

True-Name Nemesis

As True-Name Nemesis enters, choose a player.
True-Name Nemesis has protection from the chosen player.

Spell Pierce

Counter target noncreature spell unless its controller pays {2}.

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.)

Unwind

Counter target noncreature spell. Untap up to three lands.

Memory Lapse

Counter target spell. If that spell is countered this way, put it on top of its owner's library instead of into that player's graveyard.

Mana Leak

Counter target spell unless its controller pays {3}.

Tale's End

Counter target activated ability, triggered ability, or legendary spell.

Negate

March of Swirling Mist

As an additional cost to cast this spell, you may exile any number of blue cards from your hand. This spell costs {2} less to cast for each card exiled this way.
Up to X target creatures phase out. (While they're phased out, they're treated as though they don't exist. Each one phases in before its controller untaps during their next untap step.)

Sapphire Medallion

Blue spells you cast cost {1} less to cast.

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.

An Offer You Can't Refuse

Counter target noncreature spell. Its controller creates two Treasure tokens. (They're artifacts with "{T}, Sacrifice this token: Add one mana of any color.")

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.