Lord of Atlantis

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

Merrow Reejerey

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

Lonely Sandbar

Lonely Sandbar enters tapped.
{T}: Add {U}.
Cycling {U} ({U}, Discard this card: 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.

Sygg, River Cutthroat

At the beginning of each end step, if an opponent lost 3 or more life this turn, you may draw a card. (Damage causes loss of life.)

Island

Wanderwine Prophets

Champion a Merfolk (When this enters, sacrifice it unless you exile another Merfolk you control. When this leaves the battlefield, that card returns to the battlefield.)
Whenever Wanderwine Prophets deals combat damage to a player, you may sacrifice a Merfolk. If you do, take an extra turn after this one.

Repulse

Return target creature to its owner's hand.
Draw a card.

Wake Thrasher

Whenever a permanent you control becomes untapped, Wake Thrasher gets +1/+1 until end of turn.

Fathom Trawl

Reveal cards from the top of your library until you reveal three nonland cards. Put the nonland cards revealed this way into your hand, then put the rest of the revealed cards on the bottom of your library in any order.

Coralhelm Commander

Level up {1} ({1}: Put a level counter on this. Level up only as a sorcery.)
LEVEL 2-3
3/3
Flying
LEVEL 4+
4/4
Flying
Other Merfolk creatures you control get +1/+1.

Inundate

Return all nonblue creatures to their owners' hands.

Complicate

Counter target spell unless its controller pays {3}.
Cycling {2}{U} ({2}{U}, Discard this card: Draw a card.)
When you cycle Complicate, you may counter target spell unless its controller pays {1}.

Sandbar Merfolk

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

Surgespanner

Whenever Surgespanner becomes tapped, you may pay {1}{U}. If you do, return target permanent to its owner's hand.

Merfolk Skyscout

Flying
Whenever Merfolk Skyscout attacks or blocks, untap target permanent.

Aquitect's Will

Put a flood counter on target land. That land is an Island in addition to its other types for as long as it has a flood counter on it. If you control a Merfolk, draw a card.