I have modeled this. When I add another slot in order to make my man more realistic, it loses color and becomes like a normal object.
And my man with new slot added,
Please help so that my object stays in first slot color and uses second slot.
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It doesn't exactly "lose color". Paint slots are handled as layers, so if you add a new slot to your model it "spraypaints" the model with whatever colors you have in that slot. Since in your case there are no colors (or a texture, to be more precise) the model appears to have no color at all.