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I'm returning to the game and I've forgotten some things about materia melding.
What is the max amount of materia on a gear? 5 right?
I seem to recall a stat cap. For example, if your gear has Dex on it, you wont receive any benefit from melding Dex to it. Is there a way to know the stat cap?
What's the best way to farm materia these days?
They made some changes to spirit bonding. Essentially you can SB gear based on the level of the gear and the level of the mobs you're fighting. If the difference is greater than 20 in either direction you won't be able to SB at all. If I recall you SB fastest when fighting mobs 9 levels above the level of the gear you're using.
You'll know that you hit the stat cap on something simply by beginning the melding process. Before confirming (and actually attempting) a window will pop up to tell you how much of whichever stat will be added, what catalyst will be used, etc. The stats will be in white if the materia will be used entirely and bright red if you will hit the stat cap before using all of the materia's bonus.
5 materia is the max you can meld to any piece of equipment. Best place (usually) to SB is Urth's Gift. If you're trying for lower level materia (tier I or II) just go for enemies ~9 levels above the level of the gear you're using and solo.