I would use Waterlox Original. It's a thin wiping varnish. Many, many furniture makers like it, its a very common coating for hardwood gym floors. Another thought for sealing would be a primer sealer like Zinnzer or Kilz if you didn't mind making your mdf white. Oil based polyurethanes can be thinned with mineral spirits ,turpentine or naptha. Several suggest 3 poly to 1 thinner, others are 50/50 for thinning ,wicking, applications. If you go the Waterlox route a can of Bloxygen(inert gas heavier than air) prevents/slows the unused Waterlox to not film over in the can after storage.