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.

Deeproot Elite

Whenever another Merfolk you control enters, put a +1/+1 counter on target Merfolk you control.

Kindred Discovery

As Kindred Discovery enters, choose a creature type.
Whenever a creature you control of the chosen type enters or attacks, draw a card.

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.

Hakbal of the Surging Soul

At the beginning of combat on your turn, each Merfolk creature you control explores. (Reveal the top card of your library. Put that card into your hand if it's a land. Otherwise, put a +1/+1 counter on the exploring creature, then put the card back or put it into your graveyard.)
Whenever Hakbal of the Surging Soul attacks, you may put a land card from your hand onto the battlefield. If you don't, draw a card.

Cold-Eyed Selkie

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever Cold-Eyed Selkie deals combat damage to a player, you may draw that many cards.

Seafloor Oracle

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

Unnatural Restoration

Return target permanent card from your graveyard to your hand. Proliferate. (Choose any number of permanents and/or players, then give each another counter of each kind already there.)

Surgespanner

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

Vodalian Hexcatcher

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

Inspiring Call

Draw a card for each creature you control with a +1/+1 counter on it. Those creatures gain indestructible until end of turn. (Damage and effects that say "destroy" don't destroy them.)

Singer of Swift Rivers

Flash
When Singer of Swift Rivers enters, put a shield counter on another target creature you control. (If it would be dealt damage or destroyed, remove a shield counter from it instead.)
You may cast Merfolk spells as though they had flash.

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}.)

Beast Within

Destroy target permanent. Its controller creates a 3/3 green Beast creature token.

Merfolk Mistbinder

Kumena, Tyrant of Orazca

Tap another untapped Merfolk you control: Kumena, Tyrant of Orazca can't be blocked this turn.
Tap three untapped Merfolk you control: Draw a card.
Tap five untapped Merfolk you control: Put a +1/+1 counter on each Merfolk you control.

Merrow Commerce

At the beginning of your end step, untap all Merfolk you control.

Zegana, Utopian Speaker

When Zegana, Utopian Speaker enters, if you control another creature with a +1/+1 counter on it, draw a card.
{4}{G}{U}: Adapt 4. (If this creature has no +1/+1 counters on it, put four +1/+1 counters on it.)
Each creature you control with a +1/+1 counter on it has trample.

Murkfiend Liege

Other green creatures you control get +1/+1.
Other blue creatures you control get +1/+1.
Untap all green and/or blue creatures you control during each other player's untap step.

Forerunner of the Heralds

When Forerunner of the Heralds enters, you may search your library for a Merfolk card, reveal it, then shuffle and put that card on top.
Whenever another Merfolk you control enters, put a +1/+1 counter on Forerunner of the Heralds.

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.)

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.)

Merrow Harbinger

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
When Merrow Harbinger enters, you may search your library for a Merfolk card, reveal it, then shuffle and put that card on top.

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.)

Deeproot Pilgrimage

Whenever one or more nontoken Merfolk you control become tapped, create a 1/1 blue Merfolk creature token with hexproof.

Herald of Secret Streams

Creatures you control with +1/+1 counters on them can't be blocked.

Merrow Reejerey

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

Tishana, Voice of Thunder

Tishana, Voice of Thunder's power and toughness are each equal to the number of cards in your hand.
You have no maximum hand size.
When Tishana enters, draw a card for each creature you control.

Merfolk Sovereign

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