adystar on Nostr: So legitimate question not trolling ot anything : how are lightning "sats" in out ...

So legitimate question not trolling ot anything : how are lightning "sats" in out wallet not IOUs for #Bitcoin? If the channels are setup between lightning nodes I'm assuming the sats in out wallet are part of the multisig channel "owned" by the wallet provider. Unless redeemed on-chain it's an IOU from the wallet maker. Am I incorrect in my assumption/understanding? I didn't dive deep into lightning, just the basics... #noob #noobQuestion