Mist Dancer

Flying
Other Merfolk you control get +1/+0 and have flying.
Encore {5}{U}{U} ({5}{U}{U}, Exile this card from your graveyard: For each opponent, create a token copy that attacks that opponent this turn if able. They gain haste. Sacrifice them at the beginning of the next end step. Activate only as a sorcery.)

Island

Tempest Caller

When Tempest Caller enters, tap all creatures target opponent controls.

Mist-Cloaked Herald

Triton Shorestalker

Merfolk Sovereign

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

Merrow Reejerey

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

True-Name Nemesis

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

Counterspell

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.)

Thassa, God of the Sea

Indestructible
As long as your devotion to blue is less than five, Thassa isn't a creature. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)
At the beginning of your upkeep, scry 1.
{1}{U}: Target creature you control can't be blocked this turn.

Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

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.