Welcome aboard, Echohead.
For buttons/switches with two contacts, connect one (Common or Com) to the daisy-chain ground and the other (Normally Open or NO) to the encoder input.
It doesn't make a difference which contact is which -- press the button and the terminals make contact, release the button and the terminals lose contact.
For buttons with three contacts, there is also a Normally Closed (NC) that is usually not used.

Scott