Lord of Atlantis

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

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.

Flare of Denial

You may sacrifice a nontoken blue creature rather than pay this spell's mana cost.
Counter target spell.

Merfolk Sovereign

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

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.

Merrow Reejerey

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

Otawara, Soaring City

{T}: Add {U}.
Channel — {3}{U}, Discard Otawara, Soaring City: Return target artifact, creature, enchantment, or planeswalker to its owner's hand. This ability costs {1} less to activate for each legendary creature you control.

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.)

Vodalian Hexcatcher

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

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.

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.

Island

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.

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.

Rishadan Dockhand

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
{1}, {T}: Tap target land.

Mutavault

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

Harbinger of the Seas

Cursecatcher

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