Air Bladder

Enchant creature
Enchanted creature has flying.
Enchanted creature can block only creatures with flying.

Aquatic Incursion

When Aquatic Incursion enters, create two 1/1 blue Merfolk creature tokens with hexproof. (They can't be the targets of spells or abilities your opponents control.)
{3}{U}: Target Merfolk can't be blocked this turn.

Aether Barrier

Whenever a player casts a creature spell, that player sacrifices a permanent unless they pay {1}.

Altar of the Brood

Whenever another permanent you control enters, each opponent mills a card.

Enclave Elite

Multikicker {1}{U} (You may pay an additional {1}{U} any number of times as you cast this spell.)
Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Enclave Elite enters with a +1/+1 counter on it for each time it was kicked.

Adrix and Nev, Twincasters

Ward {2} (Whenever this creature becomes the target of a spell or ability an opponent controls, counter it unless that player pays {2}.)
If one or more tokens would be created under your control, twice that many of those tokens are created instead.

Cosi's Trickster

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

Fallowsage

Whenever Fallowsage becomes tapped, you may draw a card.

Alandra, Sky Dreamer

Whenever you draw your second card each turn, create a 2/2 blue Drake creature token with flying.
Whenever you draw your fifth card each turn, Alandra, Sky Dreamer and Drakes you control each get +X/+X until end of turn, where X is the number of cards in your hand.

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.

Cenote Scout

When Cenote Scout enters, it 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 this creature, then put the card back or put it into your graveyard.)

Biolume Serpent

Sacrifice two Islands: Biolume Serpent can't be blocked this turn.

Biolume Egg

Defender
When Biolume Egg enters, scry 2.
When you sacrifice Biolume Egg, return it to the battlefield transformed under its owner's control at the beginning of the next end step.

Biolume Egg // Biolume Serpent

Drowner of Secrets

Tap an untapped Merfolk you control: Target player mills a card.

Capsizing Wave

Return target creature to its owner's hand. (Then exile this card. You may cast the creature later from exile.)

Sword Coast Serpent

Sword Coast Serpent can't be blocked as long as you've cast a noncreature spell this turn.

Sword Coast Serpent // Capsizing Wave

Deeptread Merrow

{U}: Deeptread Merrow gains islandwalk until end of turn. (It can't be blocked as long as defending player controls an Island.)

Merrow Commerce

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

Frostwind Invoker

Flying
{8}: Creatures you control gain flying until end of turn.

Combine Guildmage

{1}{G}, {T}: This turn, each creature you control enters with an additional +1/+1 counter on it.
{1}{U}, {T}: Move a +1/+1 counter from target creature you control onto another target creature you control.

Benthic Behemoth

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)

Radstorm

Storm (When you cast this spell, copy it for each spell cast before it this turn.)
Proliferate. (Choose any number of permanents and/or players, then give each another counter of each kind already there.)

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.

Cleric of Chill Depths

Whenever Cleric of Chill Depths blocks a creature, that creature doesn't untap during its controller's next untap step.

Coral Commando

Deeproot Champion

Whenever you cast a noncreature spell, put a +1/+1 counter on Deeproot Champion.

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.

Xolatoyac, the Smiling Flood

Whenever Xolatoyac, the Smiling Flood enters or attacks, 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.
At the beginning of your end step, untap each permanent you control with a counter on it.

Brineborn Cutthroat

Flash (You may cast this spell any time you could cast an instant.)
Whenever you cast a spell during an opponent's turn, put a +1/+1 counter on Brineborn Cutthroat.

Argivian Avenger

{1}: Until end of turn, Argivian Avenger gets -1/-1 and gains your choice of flying, vigilance, deathtouch, or haste.

Arwen's Gift

This spell costs {1} less to cast if you control two or more legendary creatures.
Scry 2, then draw two cards.

Caller of Gales

{1}{U}, {T}: Target creature gains flying until end of turn.

Ark of Blight

{3}, {T}, Sacrifice Ark of Blight: Destroy target land.

Benthic Biomancer

{1}{U}: Adapt 1. (If this creature has no +1/+1 counters on it, put a +1/+1 counter on it.)
Whenever one or more +1/+1 counters are put on Benthic Biomancer, draw a card, then discard a card.

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.

Acquire

Search target opponent's library for an artifact card and put that card onto the battlefield under your control. Then that player shuffles.

Benthic Explorers

{T}, Untap a tapped land an opponent controls: Add one mana of any type that land could produce.

Venture Deeper

Target player mills four cards. (Then exile this card. You may cast the creature later from exile.)