Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When Master of Waves enters the battlefield, 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.)

Lullmage Mentor

Whenever a spell or ability you control counters a spell, you may create a 1/1 blue Merfolk creature token.
Tap seven untapped Merfolk you control: Counter target spell.

Talisman of Curiosity

{T}: Add {C}.
{T}: Add {G} or {U}. Talisman of Curiosity deals 1 damage to you.

Biomantic Mastery

Draw a card for each creature target player controls, then draw a card for each creature another target player controls.

Kumena, Tyrant of Orazca

Tap another untapped Merfolk you control: Kumena, Tyrant of Orazca can't be blocked this turn.
Tap three untapped Merfolk you control: Draw a card.
Tap five untapped Merfolk you control: Put a +1/+1 counter on each Merfolk you control.

Seahunter

{3}, {T}: Search your library for a Merfolk permanent card, put it onto the battlefield, then shuffle.

Lord of Atlantis

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

Combine Guildmage

{1}{G}, {T}: This turn, each creature you control enters the battlefield 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.

Merrow Commerce

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

Drowner of Secrets

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

Forest

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."

Cursecatcher

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

Negate

True-Name Nemesis

As True-Name Nemesis enters the battlefield, choose a player.
True-Name Nemesis has protection from the chosen player.

Cosi's Trickster

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

Island

Merfolk Mistbinder

Seedborn Muse

Untap all permanents you control during each other player's untap step.

Brainstorm

Draw three cards, then put two cards from your hand on top of your library in any order.

Kopala, Warden of Waves

Spells your opponents cast that target a Merfolk you control cost {2} more to cast.
Abilities your opponents activate that target a Merfolk you control cost {2} more to activate.

Counterspell

Merrow Reejerey

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

Wistful Selkie

When Wistful Selkie enters the battlefield, draw a card.

Selkie Hedge-Mage

When Selkie Hedge-Mage enters the battlefield, if you control two or more Forests, you may gain 3 life.
When Selkie Hedge-Mage enters the battlefield, if you control two or more Islands, you may return target tapped creature to its owner's hand.

Cryptolith Rite

Creatures you control have "{T}: Add one mana of any color."

Surgespanner

Whenever Surgespanner becomes tapped, you may pay {1}{U}. If you do, return target permanent to its owner's hand.

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.)

Plasm Capture

Counter target spell. At the beginning of your next precombat main phase, add X mana in any combination of colors, where X is that spell's mana value.

Guardian Project

Whenever a nontoken creature enters the battlefield under your control, if it doesn't have the same name as another creature you control or a creature card in your graveyard, draw a card.

Jiang Yanggu, Wildcrafter

Each creature you control with a +1/+1 counter on it has "{T}: Add one mana of any color."
−1: Put a +1/+1 counter on target creature.

Beast Whisperer

Whenever you cast a creature spell, draw a card.

Silvergill Adept

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

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.

Zegana, Utopian Speaker

When Zegana, Utopian Speaker enters the battlefield, if you control another creature with a +1/+1 counter on it, draw a card.
{4}{G}{U}: Adapt 4. (If this creature has no +1/+1 counters on it, put four +1/+1 counters on it.)
Each creature you control with a +1/+1 counter on it has trample.

Mutavault

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

Forerunner of the Heralds

When Forerunner of the Heralds enters the battlefield, you may search your library for a Merfolk card, reveal it, then shuffle and put that card on top.
Whenever another Merfolk enters the battlefield under your control, put a +1/+1 counter on Forerunner of the Heralds.

Triton Shorestalker

Merrow Harbinger

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
When Merrow Harbinger enters the battlefield, you may search your library for a Merfolk card, reveal it, then shuffle and put that card on top.

Kiora's Follower

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.

River Sneak

River Sneak can't be blocked.
Whenever another Merfolk enters the battlefield under your control, River Sneak gets +1/+1 until end of turn.

Tatyova, Benthic Druid

Landfall — Whenever a land enters the battlefield under your control, you gain 1 life and draw a card.

Mist-Cloaked Herald

Merfolk Sovereign

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

Inspiring Call

Draw a card for each creature you control with a +1/+1 counter on it. Those creatures gain indestructible until end of turn. (Damage and effects that say "destroy" don't destroy them.)

Seafloor Oracle

Whenever a Merfolk you control deals combat damage to a player, draw a card.

Hurkyl's Recall

Return all artifacts target player owns to their hand.

Tidebinder Mage

When Tidebinder Mage enters the battlefield, tap target red or green creature an opponent controls. That creature doesn't untap during its controller's untap step for as long as you control Tidebinder Mage.

Song of Freyalise

(As this Saga enters and after your draw step, add a lore counter. Sacrifice after III.)
I, II — Until your next turn, creatures you control gain "{T}: Add one mana of any color."
III — Put a +1/+1 counter on each creature you control. Those creatures gain vigilance, trample, and indestructible until end of turn.

Mistcaller

Sacrifice Mistcaller: Until end of turn, if a nontoken creature would enter the battlefield and it wasn't cast, exile it instead.

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.

Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

Shapers of Nature

{3}{G}: Put a +1/+1 counter on target creature.
{2}{U}, Remove a +1/+1 counter from a creature you control: Draw a card.

Leyline of Anticipation

If Leyline of Anticipation is in your opening hand, you may begin the game with it on the battlefield.
You may cast spells as though they had flash.

Simic Ascendancy

{1}{G}{U}: Put a +1/+1 counter on target creature you control.
Whenever one or more +1/+1 counters are put on a creature you control, put that many growth counters on Simic Ascendancy.
At the beginning of your upkeep, if Simic Ascendancy has twenty or more growth counters on it, you win the game.

Harbinger of the Tides

You may cast Harbinger of the Tides as though it had flash if you pay {2} more to cast it. (You may cast it any time you could cast an instant.)
When Harbinger of the Tides enters the battlefield, you may return target tapped creature an opponent controls to its owner's hand.

Vorel of the Hull Clade

{G}{U}, {T}: Double the number of each kind of counter on target artifact, creature, or land.

Growth Spiral

Draw a card. You may put a land card from your hand onto the battlefield.

Jadelight Ranger

When Jadelight Ranger enters the battlefield, it explores, then it explores again. (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. Then repeat this process.)

Temple of Mystery

Temple of Mystery enters the battlefield tapped.
When Temple of Mystery enters the battlefield, scry 1.
{T}: Add {G} or {U}.

Merfolk Skydiver

Flying
When Merfolk Skydiver enters the battlefield, put a +1/+1 counter on target creature you control.
{3}{G}{U}: Proliferate. (Choose any number of permanents and/or players, then give each another counter of each kind already there.)

Deeproot Elite

Whenever another Merfolk enters the battlefield under your control, put a +1/+1 counter on target Merfolk you control.

Spreading Seas

Enchant land
When Spreading Seas enters the battlefield, draw a card.
Enchanted land is an Island.

Wanderwine Prophets

Champion a Merfolk (When this enters the battlefield, sacrifice it unless you exile another Merfolk you control. When this leaves the battlefield, that card returns to the battlefield.)
Whenever Wanderwine Prophets deals combat damage to a player, you may sacrifice a Merfolk. If you do, take an extra turn after this one.

Rishkar, Peema Renegade

When Rishkar, Peema Renegade enters the battlefield, put a +1/+1 counter on each of up to two target creatures.
Each creature you control with a counter on it has "{T}: Add {G}."

Grimoire Thief

Whenever Grimoire Thief becomes tapped, exile the top three cards of target opponent's library face down.
You may look at cards exiled with Grimoire Thief.
{U}, Sacrifice Grimoire Thief: Turn all cards exiled with Grimoire Thief face up. Counter all spells with those names.

Wake Thrasher

Whenever a permanent you control becomes untapped, Wake Thrasher gets +1/+1 until end of turn.