To unhide the layer names, swipe inward toward the center of the canvas on the layer icon. 

You can also define your space with three different modes - normal, compact and hidden modes.
  • In normal mode, all menus are visible and the tool wheel is completely on canvas.
  • Enter compact mode by swiping outwards on the canvas menu buttons. This minimizes the labels into simple icons, and docks the now spinnable tool wheel into the corner.
  • Swipe outward an additional time on any of the menu buttons to use the hidden mode, which hides all of your menus to maximize your workspace. Tap the dot visible on the edge of the canvas to bring them back. You can also configure one of your gesture shortcuts to toggle hidden mode.
To return your menus from hidden → compact or from compact → normal mode, swipe inward on any menu, or feel free to tap+hold+drag on your tool wheel back to its preferred spot.