Differences between Slicer and Bounce Loop?

Could someone tell me, what is Slicer actually doing?
I see Slice in my midi configuration lists under any deck, but where does it correspond on the interface?
Is it assigning buffers of audio to the sample pads?
Or is it an alternate behavior for the looper? Than why is it listed separately in the subsections of the midi learn window?
What is Slicer Loop mode/what are it’s toggle positions, on vs off?
What do the 8 slices correspond to, 8 cue points? Beat/bar divisions?
How is setting up a note message controller to Slicer different than setting it up for a bounce loop? - aside from the fact that a bounce loop will jump the defined distance and jump repeatedly for as long as the button is pressed, while slice jumps for every press of the button.