Switching from static front page to dynamic in wordpress

At the moment the homepage of my website is a static front page, which at the moment is receiving about 80-90% of the traffic to my website. I have had a bit of trouble getting the internal pages to get more visits as the keyword thats bringing in the most traffic in comes from the optimized static page.

The problem is, this keyword isn't performing THAT well at the moment, and I feel I could do better by showing Google (and users) that I have more content to offer.

I'm considering changing the homepage layout to show a dynamic list of my latest posts which would greatly increase the content on my homepage and hopefully the keywords I would be ranking for. I have noticed competing websites in my niche doing this with great results.

I'm a bit concerned though, that changing the static page will see my site drop in rankings for my main keyword. I'm considering copy/pasting the content from the static page as a new post, stickying it at the top (so users still have the same first experience) and then adding new posts as I see fit. Would this be a good option? Or would the "new" post struggle for rankings compared to the aged page I have up currently.

I'm also wondering about the "freshness" of the static page, at the moment it hasn't been updated for years. Could another option be update the static page with information from my internal articles then just delete my articles (no-one sees them anyway)?

I appreciate any suggestions.