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}.)

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.

Merfolk Trickster

Flash
When Merfolk Trickster enters, tap target creature an opponent controls. It loses all abilities until end of turn.

Mutavault

{T}: Add {C}.
{1}: Mutavault becomes a 2/2 creature with all creature types until end of turn. It's still a land.

Lord of Atlantis

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

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.

Island

Echoing Truth

Return target nonland permanent and all other permanents with the same name as that permanent to their owners' hands.

Force of Negation

If it's not your turn, you may exile a blue card from your hand rather than pay this spell's mana cost.
Counter target noncreature spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard.

Tishana's Tidebinder

Flash
When Tishana's Tidebinder enters, counter up to one target activated or triggered ability. If an ability of an artifact, creature, or planeswalker is countered this way, that permanent loses all abilities for as long as Tishana's Tidebinder remains on the battlefield. (Mana abilities can't be targeted.)

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.

Kira, Great Glass-Spinner

Flying
Creatures you control have "Whenever this creature becomes the target of a spell or ability for the first time each turn, counter that spell or ability."

Aether Vial

At the beginning of your upkeep, you may put a charge counter on Aether Vial.
{T}: You may put a creature card with mana value equal to the number of charge counters on Aether Vial from your hand onto the battlefield.

Vodalian Hexcatcher

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

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.)

Merrow Reejerey

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