Mist Dancer

Flying
Other Merfolk you control get +1/+0 and have flying.
Encore {5}{U}{U} ({5}{U}{U}, Exile this card from your graveyard: For each opponent, create a token copy that attacks that opponent this turn if able. They gain haste. Sacrifice them at the beginning of the next end step. Activate only as a sorcery.)

Have

River Herald Scout

When River Herald 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.)

Seeker of Sunlight

{2}{G}: Seeker of Sunlight explores. Activate only as a sorcery. (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.)

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.

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.

Waterwind Scout

Flying
When Waterwind Scout enters, create a Map token. (It's an artifact with "{1}, {T}, Sacrifice this artifact: Target creature you control explores. Activate only as a sorcery.")

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.

Subterranean Schooner

Whenever Subterranean Schooner attacks, target creature that crewed it this turn 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 that creature, then put the card back or put it into your graveyard.)
Crew 1

Singer of Swift Rivers

Flash
When Singer of Swift Rivers enters, put a shield counter on another target creature you control. (If it would be dealt damage or destroyed, remove a shield counter from it instead.)
You may cast Merfolk spells as though they had flash.

Vorel of the Hull Clade

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

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.

Tempest Caller

When Tempest Caller enters, tap all creatures target opponent controls.

Merrow Reejerey

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

Merfolk Wayfinder

Flying
When Merfolk Wayfinder enters, reveal the top three cards of your library. Put all Island cards revealed this way into your hand and the rest on the bottom of your library in any order.

Wildgrowth Walker

Whenever a creature you control explores, put a +1/+1 counter on Wildgrowth Walker and you gain 3 life.

Herald of Secret Streams

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

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.)

Hardened Scales

If one or more +1/+1 counters would be put on a creature you control, that many plus one +1/+1 counters are put on it instead.

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.

Vodalian Merchant

When Vodalian Merchant enters, draw a card, then discard a card.

Merfolk Sovereign

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