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.

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.)

Lightning Greaves

Equipped creature has haste and shroud. (It can't be the target of spells or abilities.)
Equip {0}

Nykthos, Shrine to Nyx

{T}: Add {C}.
{2}, {T}: Choose a color. Add an amount of mana of that color equal to your devotion to that color. (Your devotion to a color is the number of mana symbols of that color in the mana costs of permanents you control.)

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.

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}.)

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.)

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.

Empress Galina

{U}{U}, {T}: Gain control of target legendary permanent. (This effect lasts indefinitely.)

Merfolk Spy

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever Merfolk Spy deals combat damage to a player, that player reveals a card at random from their hand.

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.

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.

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.

Deepchannel Mentor

Blue creatures you control can't be blocked.

Path of Ancestry

Path of Ancestry enters tapped.
{T}: Add one mana of any color in your commander's color identity. When that mana is spent to cast a creature spell that shares a creature type with your commander, scry 1. (Look at the top card of your library. You may put that card on the bottom.)

Callaphe, Beloved of the Sea

Callaphe's power is equal to your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)
Creatures and enchantments you control have "Spells your opponents cast that target this permanent cost {1} more to cast."

Vodalian Hexcatcher

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

Merfolk Sovereign

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

Fierce Guardianship

If you control a commander, you may cast this spell without paying its mana cost.
Counter target noncreature spell.

Urza's Incubator

As Urza's Incubator enters, choose a creature type.
Creature spells of the chosen type cost {2} less to cast.

Cosi's Trickster

Whenever an opponent shuffles their library, you may put a +1/+1 counter on Cosi's Trickster.

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.

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.

Seafloor Oracle

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

Whirlpool Rider

When Whirlpool Rider enters, shuffle the cards from your hand into your library, then draw that many cards.