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.

Island

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}.)

Empress Galina

{U}{U}, {T}: Gain control of target legendary permanent. (This effect lasts indefinitely.)

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.

Caller of Gales

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

Harbinger of the Seas

Halimar Wavewatch

Level up {2} ({2}: Put a level counter on this. Level up only as a sorcery.)
LEVEL 1-4
0/6
LEVEL 5+
6/6
Islandwalk (This creature can't be blocked as long as defending player controls an Island.)

Cleric of Chill Depths

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

Omo, Queen of Vesuva

Whenever Omo, Queen of Vesuva enters or attacks, put an everything counter on each of up to one target land and up to one target creature.
Each land with an everything counter on it is every land type in addition to its other types.
Each nonland creature with an everything counter on it is every creature type.

Coralhelm Commander

Level up {1} ({1}: Put a level counter on this. Level up only as a sorcery.)
LEVEL 2-3
3/3
Flying
LEVEL 4+
4/4
Flying
Other Merfolk creatures you control get +1/+1.

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.

Herald of Secret Streams

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

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.)

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.)

Merfolk Cave-Diver

Whenever a creature you control explores, Merfolk Cave-Diver gets +1/+0 until end of turn and can't be blocked this turn.

Deepchannel Mentor

Blue creatures you control can't be blocked.

Forest

Nicanzil, Current Conductor

Whenever a creature you control explores a land card, you may put a land card from your hand onto the battlefield tapped.
Whenever a creature you control explores a nonland card, put a +1/+1 counter on Nicanzil, Current Conductor.

Lord of Atlantis

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

Deeproot Wayfinder

Whenever Deeproot Wayfinder deals combat damage to a player or battle, surveil 1, then you may return a land card from your graveyard to the battlefield tapped. (To surveil 1, look at the top card of your library. You may put that card into your graveyard.)