This is a semi-budget version of a Mardu Midrange that I've been playing the last two weeks. I based the instant and sorcery make-up of the deck on Nam Sung Wook's 2014 World Championship Mardu Midrange. The Planeswalkers are a little similar to his, but I opted for an extra Sorin and I unfortunately don't have any Sarkhan, the Dragonspeaker to drop into it.
The deck differs from his most in the creature base. Rather than opting to pay for a set of Goblin Rabblemaster and necessitating a few Hordeling Outburst to support them, I went for a warrior creature base. Without the constant goblin stream, I risk Butcher of the Horde not having enough fuel for his fire, but I am running Raise the Alarm to make for a quicker and more situational token generator. To keep my warriors alive and tasty for the Butcher, I decided to drop in Athreos, God of Passage, so that whatever gets sacked or picked off can just come back until my opponent has to start making hard decisions about whether a cheap warrior in my hand or 3 life lost is worse for them. My soldier tokens are cool to get the ball rolling in a pinch, but with all my other creatures contributing to devotion, and coming back from dying over and over, I can easily maintain a foothold on the board. Even without devotion, my Bloodsoaked Champion has the opportunity to come back (useless for blocks, but good for keeping them from attacking) and my chiefs keep the Champions extra threatening.
When Athreos is awake, he's a great blocker, and a good extra when I'm swinging in with Sorin's plus one. Chandra is there mostly for the card advantage. I have 7 scry lands, and two Magma Jet, so her Zero ability lets me play cards or drop lands. And if the game drags, her plus one helps put pressure on until I can crack her ultimate and sweep in with triple Lightning Strike or Magma Jet or Crackling Doom for a hard hitting 9 or 6 to the face, with the possibility of a three creature wipe. I pulled a little removal out for my Return to the Ranks so i can utilize those soldier tokens for a come from behind devotion, and my End Hostilities is super crappy for my opponents board state if I've got Athreos out.
My sideboard was completely unprepared for the first few events I used this decklist in. But I'll include it as it does have a few token hate in the form of Scouring Sands. I have some Hordeling Outburst in case of a game where I am losing critters too quickly to really get Butcher well fed, and if I know I can ult my Chandra. I only have one really effective removal in the form of Utter End, and Stain the Mind is nice in game two or three when I can just go and pull a win con right out of my opponent's butt. Thoughtseize to punch holes in a control deck or a hard ramping deck. Erase is for the B/G Constellations I see a lot of, and for those pesky whip decks. Although I feel as though I should have some more definite removal in the form of Hero's Downfall for the Planeswalker heavy meta.
I'm totally open to discussion, and I'll try to update this deck with my successes and failures. I feel confident in this being something worth exploring and tuning.