The Book of Mormon IS a covenant. In it we have examples of covenant making provided to us so we can understand the process. The covenant offered through the Book of Mormon has never been received by any people. When the 1835 conference adopted scriptures, they adopted only the D&C and not the Book of Mormon.
The Book of Mormon as an offered covenant to the gentiles is an essential step required for the gentiles to become numbered with the remnant and obtain the right to inherit the promised land. If it is not received as a covenant by the gentiles, they have no right to be here on this land, or on any other land of promise.
Individuals can and do obtain hope in Christ. Individuals have been “saved” by the Lord on an individual basis from the time of Adam until the present. That will continue till the end of time.
But there is a profound difference between saved individuals and a covenant people. The covenant promises to restore Israel and its remnants contained in the Book of Mormon is not fulfilled merely by individuals, but requires a covenant people who have united to receive the covenant people status.
Zion and the New Jerusalem are a place, occupied by covenant people, and not something an individual can be or become. People who gather there will all need to be individually redeemed, individually penitent, individually connected to God, but will only belong to the community if they belong to the covenant and are of one heart and one mind and have all things in common between and among them.
If you think becoming one with God, whom you have not seen, is challenging, then how much more difficult will it be to become one with your fellow man whom you have seen. (To paraphrase James.)
The failures of the past are examples to learn from so we can do better. They can also inform our fears and blind us to what the Lord has spelled out in the Book of Mormon. The book gives a blueprint of the necessary steps for the gentiles to take for them to become numbered with the remnant and entitled to possession of the promised land as their inheritance.
The Book of Mormon has likewise assured the gentiles that the covenant will include “other books” which are required for the gentiles to receive that will testify of Christ and restore lost knowledge. They will confirm the truth of the earlier testimonies of Christ. These are required for the gentiles to be restored as His people. If we reject anything offered to us by the Lord then we fail, again, to obtain what might have been offered.
We face the same test as the ancients. In Moses’ day they accepted the lesser law after they rejected the higher law. The higher law would have been received by covenant had they not rejected it first. Had they been worthy, ancient Israel would have been required to receive the higher law by covenant as well.
Everyone is entirely free to reject anything offered by the Lord. There is no compulsion. If you are unpersuaded to take the step, then don’t take it. Any reservation will only lead to difficulties later. Everyone should come to peace about the matter before individually deciding to accept the covenant. We are all allowed to pursue a relationship with God apart from others. There will be those who are willing to accept a covenant and become numbered with the remnant. In the end, it is better if only a very few receive covenant status who are united in mind and heart than to have a larger body that includes the fearful, the doubtful and the skeptical.
The Lord asked the saints, Of what value is it for God to offer a gift if men refuse to receive the gift? On the other hand, if this is not from God, then there is nothing to trouble. If it is of man, by all means, refuse it.
Taking this offered step will not immediately change anything other than the identity of those gentiles who receive it. It will be years before the process of sweeping away those who are not entitled to the land will begin in earnest.
For those who receive the covenant, the Lord will expect them to keep it. WE are free throughout this process to reject, or to break the covenant after receiving it. Eventually a few faithful people will be gathered. The Lord knows whose heart is right before Him and whose is not; who can be of one heart and mind with others, and those who cannot. Zion will be His work, not man’s.