The Layers Panel changes depending on which Room you are working in.
A layer is not per object base but is a kind of scene layer.

Layers: opens the Layers Panel.
Layer Blending: Invokes the Layer Blending panel.
Voxel volumes does not support Layers. So, you can’t store selection into the voxel volume Layer.
Turn it to the surface first.
New: Add a new layer. It is automatically made current.
Add Layer w/ Normal Map: Adds a new Paint Layer with the blend mode automatically set to NormalMap. This is for use with normal maps generated outside 3DCoat.
Duplicate: Duplicates the selected layer.
Delete: Delete the current Layer.
Merge Visible: Merges all of the visible Paint Layers into one layer.
Merge Down/Up: Merges the selected Layer up/down.
Copy Channels: Allows you to copy specific channels from one layer to another. You can copy Red, Green, Blue, Luminosity, Alpha, Glossiness & Depth to the same or any other channel on the target layer. For more advanced functionality, you can also set the copying to Replace, Move, Blend, Add & Subtract.

Apply Layer Blending: This applies the current layer blending as the default and resets the blend mode to Standard Blend.
Discard Clip Masked Pixels: Discard areas clipped by another layer in the current layer. Making the masked areas transparent.
Erase Unfrozen: Delete unfrozen parts of the current layer. Enable or disable the depth, color, and Glossiness channels to restrict this action to a specific channel.
Fill Entire Layer: Fill the entire layer using the current material and color.
Refill Material: Re-fill non-transparent areas of this layer with current material. It is convenient to change the material used to fill the layer.
Clamp Min. Depth: Clamps the depth of a layer by performing a minimum depth scan based on the parameter you specify. Good for removing “spikes” created while texture painting a depth map.
Clamp Layer Depth: Clamp/Plateau depth of the layer with a minimum and maximum value.
Symmetrical Transform
If you don’t have Topological Symmetry active, These functions below activate the Topological Symmetry tool. Read more about it by clicking the link.
- Flip Layers and Duplicate: Duplicate the layer, then flip it using topological symmetry.
- Flip Layer: Flip the layer using topological symmetry.
- Copy blue to Red: This option copies the blue parts of the mesh to the red areas. Define the blue and red areas first with the ‘Topological symmetry’ tool.
- Copy Red to Blue: This option copies the red parts of the mesh to the blue areas. Define the red and blue areas first with the ‘Topological symmetry’ tool.
Import:
- Layers Color: Import the color channels from a PSD file to all layers.
- Roughness: Import an image to be used as Roughness monochrome channel.
- Metalness: Import a Metalness map file into the current layer.
- Depth: Import a depth image map into the current layer.
Export:
- Color: Export color information in the current layer to a file.
- All Layers Color: Export the color channel to a PSD file from all layers.
- Roughness: Save only the Glossiness channel as a greyscale image.
- Metalness: Export a Metalness map file as a greyscale image.
- Depth: Export a depth image map file.