The structure 'x times as~as~'

http://en.wikipedia.org/wiki/EDGE, a revision by the http://en.wikipedia.org/wiki/3GPP organization to the older http://en.wikipedia.org/wiki/2G http://en.wikipedia.org/wiki/GSM based transmission methods, utilizing the same switching nodes, base station sites and frequencies as GPRS, but new base station and cellphone RF circuits. It is based on the three times as efficient 8PSK modulation scheme as supplement to the original http://en.wikipedia.org/wiki/GMSK modulation scheme. EDGE is still used extensively due to its ease of upgrade from existing 2G GSM infrastructure and cell-phones.

I think "the three times as efficient 8PSK modulation scheme" is used as the object of "based on" and "as" before "supplement" is the preposition expressing "use."; am I right?
Thank you in advance for your help.