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.)

Spreading Seas

Enchant land
When Spreading Seas enters, draw a card.
Enchanted land is 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.

Silvergill Adept

As an additional cost to cast this spell, reveal a Merfolk card from your hand or pay {3}.
When Silvergill Adept enters, draw a card.

Deeproot Pilgrimage

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

Merfolk Trickster

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

Cursecatcher

Sacrifice Cursecatcher: Counter target instant or sorcery spell unless its controller pays {1}.

Island

Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When Master of Waves enters, create a number of 1/0 blue Elemental creature tokens equal to your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)

Vapor Snag

Return target creature to its owner's hand. Its controller loses 1 life.

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}.)

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.