Reef Worm

When this creature dies, create a 3/3 blue Fish creature token with "When this token dies, create a 6/6 blue Whale creature token with 'When this token dies, create a 9/9 blue Kraken creature token.'"

Serpent of Yawning Depths

Krakens, Leviathans, Octopuses, and Serpents you control can't be blocked except by Krakens, Leviathans, Octopuses, and Serpents.

Counterspell

Svyelun of Sea and Sky

Svyelun 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}.)

Wonder

Flying
As long as this card is in your graveyard and you control an Island, creatures you control have flying.

Island

Exploration

You may play an additional land on each of your turns.

Dryad of the Ilysian Grove

You may play an additional land on each of your turns.
Lands you control are every basic land type in addition to their other types.

Military Intelligence

Whenever you attack with two or more creatures, draw a card.

Kiora, Sovereign of the Deep

Vigilance, ward {3}
Whenever you cast a Kraken, Leviathan, Octopus, or Serpent spell from your hand, look at the top X cards of your library, where X is that spell's mana value. You may cast a spell with mana value less than X from among them without paying its mana cost. Put the rest on the bottom of your library in a random order.

True-Name Nemesis

As this creature enters, choose a player.
This creature has protection from the chosen player.

Thespian's Stage

{T}: Add {C}.
{2}, {T}: This land becomes a copy of target land, except it has this ability.

Stormtide Leviathan

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
All lands are Islands in addition to their other types.
Creatures without flying or islandwalk can't attack.

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 attacks, you may put a land card from your hand onto the battlefield. If you don't, draw a card.

Cold-Eyed Selkie

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever this creature deals combat damage to a player, you may draw that many cards.

Ponder

Look at the top three cards of your library, then put them back in any order. You may shuffle.
Draw a card.

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.)

Tromokratis

Tromokratis has hexproof unless it's attacking or blocking.
Tromokratis can't be blocked unless all creatures defending player controls block it. (If any creature that player controls doesn't block this creature, it can't be blocked.)

Scapeshift

Sacrifice any number of lands. Search your library for up to that many land cards, put them onto the battlefield tapped, then shuffle.

Sol Ring

Cultivate

Search your library for up to two basic land cards, reveal those cards, put one onto the battlefield tapped and the other into your hand, then shuffle.

Pongify

Destroy target creature. It can't be regenerated. Its controller creates a 3/3 green Ape creature token.

Tatyova, Benthic Druid

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

Dark Depths

Dark Depths enters with ten ice counters on it.
{3}: Remove an ice counter from Dark Depths.
When Dark Depths has no ice counters on it, sacrifice it. If you do, create Marit Lage, a legendary 20/20 black Avatar creature token with flying and indestructible.

Charix, the Raging Isle

Spells your opponents cast that target Charix cost {2} more to cast.
{3}: Charix gets +X/-X until end of turn, where X is the number of Islands you control.

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.

Simic Sky Swallower

Flying, trample
Shroud (This creature can't be the target of spells or abilities.)

Consider

Surveil 1. (Look at the top card of your library. You may put it into your graveyard.)
Draw a card.

Whelming Wave

Return all creatures to their owners' hands except for Krakens, Leviathans, Octopuses, and Serpents.

Leyline of Anticipation

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