Research
Go to the Bibliography for references.
In this video you can see one of the members of MGMT experimenting with guitar pedals and trying out different sounds. At first he seems to be using a flanger pedal from the sound of it. Which is quite a dominating sound and is cool but a bit much sometimes. The next shot is of him playing a guitar with a much more simple sound that makes the track more mellow. From this I can infer that you should experiment with effects as much as you like but pick the one that is best suited to the track.
This is a guitar pedal, more specifically it is a chorus pedals. This means when you push it down it will split the signal of a note detuning one and tuning another through modulation. This effect gives your tracks a certain richness too it. For me personally I think a smaller, less intense chorus sound can be much nicer than an overpowering.

This guitar pedal is called a flanger. Similar to the chorus pedal the signal gets split and one gets delayed by milliseconds constantly changing speed. These effects' main thing in common with one another is the fact that they both get created through modulation.
How to get a good kick sound: https://www.doctormix.com/blog/how-to-make-my-kick-drum-sound-better
I've been researching how I can get good drum sounds in my track. I found this article that has 7 different steps. It goes into a fair amount of detail about how frequency can add a great deal to your kick as well as compression. It's good to remind yourself of these things. It also tells me to add saturation to my kick as this will add harmonics which will possibly make the kick more apparent if its being overshadowed by say a loud bass line.
How to get a good kick sound: https://www.doctormix.com/blog/how-to-make-my-kick-drum-sound-better
I've been researching how I can get good drum sounds in my track. I found this article that has 7 different steps. It goes into a fair amount of detail about how frequency can add a great deal to your kick as well as compression. It's good to remind yourself of these things. It also tells me to add saturation to my kick as this will add harmonics which will possibly make the kick more apparent if its being overshadowed by say a loud bass line.
This recording is of Ben Goldwesser and Andrew VanwynGarden talking about the creation of their hit song Time to Pretend. They explain how the song didn't really change much from going to a demo recording to a studio recording. They said that they used the standard synths you'd find in reason and essentially created the song off of that. You can hear that the majority of the music is just purely mono and poly synths, I find this interesting as, to me you get the impression that there is a lot going on on this track when in reality its actually quite simple. They also explained that they put the tempo up to the same as Abba's "Dancing Queen". MGMT were keen to take the mic out of themselves becoming "pop artists" so maybe this was the reason. They might've intended for it to be dancey and poppy.