What it does
"Waterbend" isn't an official Magic: The Gathering keyword or ability. It doesn't appear in the comprehensive rules or on any printed cards—it sounds like it's borrowed from Avatar: The Last Airbender rather than MTG.
If you encountered this on a card, it's likely from an unofficial, custom, or fan-made set (like a Silver-bordered joke card, a homebrew, or a proxy). In those cases, the ability does whatever that specific card's text says, since there's no standardized rules definition to fall back on.
If you meant a real mechanic, you might be thinking of something like Flood, Islandwalk, or a water/merfolk-themed ability, or perhaps a keyword from a recent set I should double-check. Let me know the exact card or set, and I'll explain the actual mechanic and its Commander implications precisely.
Iconic cards with Waterbend
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