BuddyPress.org

All you’ll need to do is create a home.php file within your theme folder (or use one in bp-default) and enter in this code:

<?php

locate_template( array( 'members/index.php' ), true );

?>

Then on the Reading Settings, page of your Dashboard, just set it to “Your Latest Posts” (it won’t actually be your latest posts).

I’ve tested and it works, just let me know if you have troubles.